On a consolidated basis, Olectra Greentech's net profit tanked 44.45% to Rs 9.66 crore on 109.95% surge in revenue from operations to Rs 147.87 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax dropped 23.01% to Rs 13.31 crore in Q4 FY21 as against Rs 17.29 crore in Q4 FY20.
Revenues from insulator division grew 31.40% to Rs 35.48 crore in Q4 March 2021 from Rs 27 crore in Q4 March 2020. Revenues from e-Bus division soared 159% to Rs 112.38 crore in Q4 March 2021 as against Rs 43.43 crore in Q4 March 2020.
During the financial year, Olectra Greentech's consolidated net profit tumbled 40.35% to Rs 8.07 crore on 40.32% jump in revenue from operations to Rs 281.37 crore in FY 2021 over FY 2020.
Meanwhile, the board has approved the execution of an agreement to divest its entire shareholding in TF Solarpower, which is a non-material wholly owned subsidiary and an in operative company to Trinity Infraventures at a consideration of Rs 1,00,000 which is subject to the approval of the required authorities. Consequently, TF Solarpower will cease to be a subsidiary of Olectra Greentech.
Olectra Greentech has major interests in electric buses, composite insulators, amorphous core-distribution transformers, data analysis and IT consulting.
Shares of Olectra Greentech lost 0.30% to Rs 184.90 on BSE. The scrip hovered in the range of Rs 183.65 to Rs 192.35 so far.
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