Shares of Olectra Green Ltd. slumped to their lowest level in over a month after the electric vehicle maker's profit declined in the fourth quarter. The company's net profit fell 45.83% on an annualised basis to Rs 14.89 crore in the quarter ended March 2024, according to an exchange filing.
Olectra Greentech Q4 Results Highlights (Consolidated, YoY)
Revenue down 23.18% at Rs 289 crore.
Ebitda down 31.05% at Rs 34.4 crore.
Margin contracted 136 bps to 11.92%.
Net profit down 45.83% at Rs 14.9 crore.
Shares of Olectra Green declined by as much as 11.96%, the lowest level since March 14. They pared the loss to trade 4.03% lower at 10:12 a.m., compared to a 0.13% decline in the NSE Nifty 50.
The stock has gained 165.62% in 12 months and 29.14% year-to-date. The total traded volume so far today was 4.5 times its 30-day average. The relative strength index was at 41.91.
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