Olectra Greentech gains on supply of new electric C9 Inter-City buses to Evey Trans, hits record high

Olectra Greentech rose 1.16% to Rs 586 after the company supplied its new electric buses 'C9- Inter-City Buses' to Evey Trans (EVEY) and launched the same on 13 October 2021 for commercial Inter-City E-Bus Operations between Pune and Mumbai.

The company reported a consolidated net profit of Rs 1.32 crore in Q1 FY22 as against a net loss of Rs 5.08 crore in Q1 FY21. Net sales during the quarter increased by 90.9% Y-o-Y (year-on-year) to Rs 42.27 crore.

Olectra Greentech has major interests in electric buses, composite insulators, amorphous core-distribution transformers, data analysis and IT consulting.

The scrip hit an all-time high at Rs 602.10 during intraday trade.

 

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