Electric mobility company Olectra Greentech Ltd (OLECTRA) on Friday said it has won an order of supplying 100 electric buses to Assam State Transport Corporation for Rs 151 crore.

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The company said on September 2, "We would like to inform you that, Olectra Greentech Limited (Olectra/Company) has received Letter of Award from one of the state transport corporations for 100 electric buses."

"This order for the supply of 100 electric buses is on an outright sale basis and which shall be delivered over a period of 9 months. Company shall be responsible for maintenance of these buses for a period of 5 years," Olectra Greentech said in a stock exchange filing.

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Recently, Olectra had won an order to supply 300 electric buses worth Rs 500 crore to Telangana State Road Transport Corporation (TSRTC). According to the statement, Evey Trans Private Ltd shall procure these buses from Olectra Greentech Ltd, which shall be delivered over a period of 20 months.

Currently, Olectra Greentech is operating electric buses in various state transport undertakings (STUs) in the country, such as Pune (PMPML), Mumbai (BEST), Goa, Deharadun, Surat, Ahmedabad, Silvasa, and Nagpur.

Established in 2000, the company is part of the Hyderabad-based Megha Engineering and Infrastructures Limited. Driven by higher revenue, the company saw its net profit rise to Rs 18.8 crore in the June quarter.

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(Edited by : Shoma Bhattacharjee)

First Published:Sept 2, 2022 6:53 PM IST