MEIL group firm Olectra Greentech reported a 6.8% year-on-year (YoY) increase in consolidated net profit to ₹52.93 crore for the second quarter, compared with ₹49.54 crore in the corresponding quarter last year.
Revenue from operations rose 4.6% to ₹687 crore from ₹657 crore a year ago.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 2.5% YoY to ₹91.7 crore from ₹89.5 crore. However, the EBITDA margin narrowed to 13.4% from 13.6% in the year-ago quarter.
Separately, the company’s board has approved the sale of its entire 34% equity stake in associate company Evey Trans (UJJ) Private Limited to Evey Trans Private Limited.
The transaction has been approved for an aggregate consideration of ₹34,000, following a recommendation from the Audit Committee.
Shares of Olectra Greentech closed 1.8% higher at ₹1,076.95 on the NSE on Monday, ahead of the earnings announcement.
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