|
Revenue from operations grew by 33.42% year on year to Rs 342.14 crore in the quarter ended 31 December 2023.
As compared to Q2 FY24, the company's net profit jumped by 45.92% while revenue from operation rose 11.38% in Q3 FY24.
Profit before tax stood at Rs 33.83 crore in the quarter ended 31 December 2023, up 65.38% as against Rs 20.45 crore recorded in Q3 FY23.
Total expenses increased by 32.74% YoY to Rs 315.55 crore during the quarter. Cost of material consumed was at Rs 276.29 crore (up 49.68% YoY) and employee benefits expenses stood at Rs 18.32 crore (up 37.13% YoY) in Q3 FY24.
On the segmental front, Insulator division revenue was Rs 36.07 crore (up 31.52% YoY) e-bus division revenue was Rs 282.40 crore (up 23.32% YoY) and revenue from e-truck division stood at Rs 23.66 crore in the third quarter (up 11.80% QoQ).
On nine month basis, the company’s net profit surged by 61.83% to Rs 63.76 crore on 21.05% jump in revenue from operation to Rs 865.32 crore in 9M FY24 over 9M FY23.
Olectra Greentech is engaged in the manufacturing of composite polymer insulators, electric buses and electric trucks.
The scrip rose 0.32% to settle at Rs 1699.20 on Thursday on the BSE.
|