Hyderabad: Leading electric vehicles manufacturer Olectra Greentech Limited (OGL), on Thursday announced its Q4 and full year consolidated financial results ending March 31, 2024.
The Board of Directors, in its meeting held on Thursday, officially approved these remarkable achievements.
Company has received total orders of 8,232 electric vehicles during FY 23-24 including 3,000 buses repeated order from BEST – Mumbai in Q4 FY24.
In Q4 FY24, the company has surpassed an order book milestone of 10,000 electric buses in the country.
The company has delivered 1,746 electric vehicles till date including deliveries of 131 electric vehicles in Q4 FY23-24.
Strong demand continues with the total number of bus orders on hand at 10,969 units.
Performance for financial year ending March 31,2024:
The revenue for FY24 was Rs 1154.14 crore, up by 5.8 per cent. The company’s EBITDA in full year reached an impressive Rs 185.51 crore, marking a substantial 20.5 per cent increase compared to the previous year.
The PBT surged to Rs 105.78 crore, a remarkable 18.3 per cent increase from the previous fiscal years Rs 89.43 crore.
The PAT stands at Rs 76.83 crore, up by 17.1 per cent compared to the previous fiscal year’s Rs 65.59 crore.
Commenting on the results, Olectra Greentech Limited Chairman & Managing Director K V Pradeep said, “we are pleased to report strong growth in our consolidated revenue and profitability for the full year FY 23-24. Our focus continues on increasing our manufacturing capacity and enhancing our technology capabilities.
We also have a strong order book.” The company has commenced partial production in the new Seetarampur facility in the month of February 24 and delivered its first batch of buses, he added.