Olectra Greentech Reports 5% Increase in Q2 Net Profit at ₹52 Crore

Electric bus maker Olectra Greentech Ltd reported a 5.4 per cent growth in net profit, touching ₹52.12 crore for the quarter ending September in FY27. In the corresponding quarter of the previous fiscal year, the Hyderabad-based company recorded a consolidated profit after tax of ₹49.43 crore, according to its regulatory exchange filing.

During the quarter under review, revenue from operations increased to ₹687.01 crore, compared to ₹656.62 crore in the same period last year. Meanwhile, total expenses rose by 6.5 per cent year-on-year to ₹632.39 crore. The company also recorded ₹3.09 crore as a share of profit from associate companies, marking an improvement from the ₹49.49 lakh loss reported in the previous year.

In terms of operational performance, Olectra delivered 401 electric vehicles during the second quarter, up from 375 vehicles delivered in the corresponding period of the previous year.

Commenting on the results, Managing Director Mahesh Babu stated that the company's order book, which currently stands at over 8,000 electric buses, provides clear visibility for future execution. Babu also noted that Olectra is preparing to introduce its new generation of electric buses. These vehicles have been developed with a strong focus on localisation and are designed to cater to both domestic and international markets.

The company has scheduled the launch of these new-generation electric buses for the fourth quarter of the current financial year.

"Olectra Greentech's steady financial performance reflects the growing demand and scaling potential within India's electric vehicle manufacturing sector. With a strong order book of over 8,000 electric buses and plans to introduce localized, next-generation models for both domestic and international markets, the company is demonstrating how steady product execution and manufacturing focus can drive long-term business sustainability in the clean mobility space." — Dr. Shishir Gupta, Founder & CEO, StartupLanes