Olectra Greentech s PAT at Rs 5.65 cr in Q1; Order on hand

Olectra Greentech Ltd (OGL) reported Rs 5.65 crore profit after tax for the quarter ended June 30 against Rs 3.62 crore loss during the same quarter in FY21.

OGL, in a press release said it recorded Rs 41.15 crore revenue during the quarter under discussion against Rs 22.15 crore in the first quarter of the last fiscal.

The company also has a healthy order book for 1325 E- Buses, out of which 87 are already delivered.

For another 300 Electric Buses, the company has been declared as least quoted bidder and expecting the letters of award, OGL said.

Many other tenders for Electric Busses are under evaluation stage, wherein the company and its associate company have participated, it said.

Meanwhile, the company appointedVenkateswara Pradeep Karumuru a Non-Executive Director of the Company as Managing Director with effect from July 29.