Olectra rides on the highway

Olectra Greentech has been the top gainer since the opening bell today and that’s on the back of its encouraging earnings for Q1FY25.

The company posted a 45% (YoY) jump in consolidated revenue from operations at Rs.314 crore. PBT came in at Rs.28 crore, up 4% and Net Profit was at Rs.24 crore, up 33%.

On an equity of Rs.33 crore, its EPS for the quarter came in at Rs.2.92 (FV of Rs.4/share).

The company has two segments -manufacturing of Composite Polymer Insulators & Electric Vehicles which includes e-buses & e-trucks, which contributed 88% to the total revenue earned.

The stock has shown volumes of almost 7x today, with the stock opening 4.5% higher at Rs.16162 and rising to an intraday high at Rs.1740, up 13%. Its 52-week high stands at Rs.2222.