Electric Mobility Firm Olectra Greentech Limited will supply 100 electric buses worth Rs. 151 crore to Assam State Transport Corporation.
It informed the stock exchange that the company has received a Letter of Award from the Assam State Transport Corporations for 100 electric buses.
Olectra Greentech said it is the first order bagged from Northeastern states and the order is to be delivered over a period of nine months. The firm shall also be responsible for the maintenance of these buses for a period of five years.
The value of these 100 buses would be approximately Rs. 151 crores for Olectra.
K V Pradeep, Chairman, and Managing Director said, "We feel happy to get the first order from the North-Eastern states and Assam. With this order, our buses are running all the corners in India. Ours clocked over five crore kilometers on Indian roads, and reduced carbon emissions significantly."
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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