The said order for supply of 5,150 electric buses are to be on gross cost contract (GCC) / OPEX model basis for a period of 12 years. Value of the electric buses would be approximately Rs 10,000 crore.
EVEY shall procure the buses from Olectra Greentech and which shall be delivered over a period of 24 months.
Olectra Greentech is primarily engaged in the manufacturing of composite polymer insulators and electrical buses.
The company's consolidated net profit jumped 52% to Rs 27.01 crore on 38.6% rise in revenue from operations to Rs 375.91 crore in Q4 FY23 over Q4 FY22.
