Electric commercial vehicle maker Olectra Greentech rebounded sharply from an underwhelming start to the fiscal year, doubling its net earnings quarter-on-quarter as fleet deliveries gathered pace. Consolidated net profit attributable to equity holders climbed 6.8 percent year-on-year to ₹52.94 crore for the quarter ended September 30, up from ₹49.55 crore in the corresponding period last fiscal. Sequentially, the turnaround was stark. Net profit surged 104 percent from the ₹25.95 crore logged in the opening quarter of FY27.
Consolidated revenue from operations expanded 4.6 percent year-on-year to ₹687.01 crore, up from ₹656.62 crore a year earlier. Top-line momentum accelerated even faster on a sequential basis—jumping 19.4 percent from ₹575.51 crore in the first quarter—as execution across regional transport tenders picked up. Including other income of ₹15.02 crore, total income for the quarter touched ₹702.03 crore.
Yet rising procurement bills kept operational margins on a tight leash. Total consolidated expenses climbed 6.8 percent year-on-year to ₹632.39 crore, up from ₹591.99 crore. Material costs formed the bulk of that outflow. Raw materials consumed accounted for ₹532.77 crore—over 84 percent of all quarterly operating costs. On a sequential basis, total consolidated outlays climbed 15.9 percent from ₹545.49 crore.
That cost pressure showed up directly in the standalone books. Standalone net profit slipped 3.5 percent year-on-year to ₹50.92 crore, compared to ₹52.78 crore in the year-ago period. But standalone numbers staged an aggressive recovery from the previous quarter, leaping 61.5 percent from ₹31.52 crore. Standalone revenue came in at ₹677.37 crore, marking a 4.7 percent annual increase and a 19.5 percent sequential rise.
| Financial Metric (Consolidated) | Q2 FY27 | Q2 FY26 | YoY Change (%) | Q1 FY27 | QoQ Change (%) |
|---|---|---|---|---|---|
| Revenue from Operations | ₹687.01 Cr | ₹656.62 Cr | +4.6% | ₹575.51 Cr | +19.4% |
| Total Income | ₹702.03 Cr | — | — | — | — |
| Total Expenses | ₹632.39 Cr | ₹591.99 Cr | +6.8% | ₹545.49 Cr | +15.9% |
| Material Costs Consumed | ₹532.77 Cr |
Independent auditors pointed out that the consolidated quarterly figures incorporate unreviewed results from selected subsidiaries, joint ventures, and eight associate firms. These associate and venture entities collectively accounted for ₹88.17 crore in total assets and contributed ₹3.09 crore to the consolidated net profit share for the three-month period.
Looking ahead, Olectra is streamlining its corporate structure. The company board approved the total disinvestment of its 34 percent equity stake in associate firm Evey Trans (UJJ). The entire holding will be transferred to Evey Trans Private Limited for a total cash consideration of ₹34,000, with management expecting the transaction to conclude within the next three months.
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| Net Profit Attributable | ₹52.94 Cr | ₹49.55 Cr | +6.8% | ₹25.95 Cr | +104.0% |