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Olectra Greentech Q1 Results: Shares Soar to 11.74%, Leads with Stellar Growth!

Olectra Greentech Q1 Results: Shares jumped 11.74% after excellent Q1 earnings, indicating strong multi-year growth with significant profit and revenue improvements, reinforcing its market dominance.
Olectra Greentech Q1 Results: Shares Soar to 11.74%, Leads with Stellar Growth!

Olectra Greentech Q1 Results: Shares surged 11.74% to ₹1724.50 after their Q1 earnings announcement, showing a strong start with a significant increase from the previous close of ₹1543.30 on BSE. The shares showcased an impressive growth trajectory, highlighting an increase of 178% over two years and 451.32% over three years.

The company reported substantial trading activity with 2.69 lakh shares leading to a turnover of ₹45.37 crore. The market cap escalated to ₹14,152.36 crore. Despite robust performance, the stock’s RSI at 27.2 suggested it was in the oversold zone, with mixed positioning relative to various moving averages.

For the June 2024 quarter, Olectra Greentech announced a 34% increase in net profit, reaching ₹24 crore up from ₹18 crore the previous year. Revenue also rose by 45%, totaling ₹314 crore, supported by a modest 4.4% rise in EBITDA to ₹43.9 crore.

The company’s earnings per share (EPS) grew by 33% to ₹2.92. This financial growth is a testament to Olectra’s enduring market presence and operational efficiency.

Established in 2000, Olectra Greentech was a pioneer in introducing electric buses in India by 2015. It stands as the country’s largest manufacturer of silicone rubber/composite insulators for power transmission and distribution networks, continuing to lead innovations in the sector.

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