Olectra Greentech jumps 10% after net profit rises 52% YoY in Q4

Shares of electric-bus manufacturer Olectra Greentech soared 10 per cent to Rs 711 per share in Monday’s intra-day trade, after the company registered 52 per cent year-on-year (YoY) rise in consolidated net profit to Rs 27.01 crore in the January-March quarter (Q4FY23).

The company is primarily engaged in the manufacturing of electric buses and composite polymer insulators.

So far this calendar year (CY23), shares of Olectra have rallied 44 per cent, as against 1 per cent rise in the S&P BSE Sensex, during the same period. Earlier, the stock had scaled to a 52-week high level of Rs 743 per share on March 10, 2023.