Hyderabad-based Olectra Greentech reports a 66% increase in revenue and doubles EV deliveries in Q1, signalling strong demand for its buses and electric commercial vehicles amid expansion plans.
Olectra Greentech has started the new financial year with a sharp rise in earnings, reporting a 66% jump in revenue to ₹575.5 crore for the June quarter as deliveries of electric vehicles more than doubled from a year earlier. The Hyderabad-based manufacturer said EBITDA rose 30% to ₹72.9 crore, while profit after tax edged up to ₹26.67 crore from ₹26.03 crore in the same period last year.
The company delivered 358 electric vehicles in the quarter, up from 161 a year earlier, taking cumulative deliveries beyond 4,000 units by the end of June. Olectra said demand remained strong across state transport undertakings and public transport networks, with execution of existing orders supporting the quarter’s performance.
The latest numbers build on a strong finish to the previous financial year. Business Standard and The Tribune reported in June that Olectra closed FY 2025-26 with revenue of ₹2,312.17 crore, up 28% year on year, while annual deliveries hit a record 1,280 electric vehicles. EBITDA for the year rose 27% to ₹352.28 crore and profit after tax increased 29% to ₹179.53 crore, according to those reports.
Olectra also said it is investing in manufacturing capacity, technology and localisation as it prepares for the next phase of expansion. The company has previously pointed to a large order pipeline and plans to broaden its product range beyond buses, including new platforms aimed at India’s public transport and electric commercial vehicle market. In its latest statement, managing director Mahesh Babu said the business had navigated foreign exchange volatility and supply chain pressures during the quarter while remaining focused on scaling responsibly.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
