Electric buses soon to run on Vasai-Virar roads

Olectra Greentech announced that it has received an order worth Rs 62.80 crore from the Vasai-Virar City Municipal Corporation (VVMC) in Mumbai. The order pertains to the provision and maintenance of 40 electric buses.

Olectra Greentech Limited LOA (letter of award) from Vasai Virar City Municipal Corporation, Mumbai for supply and maintenance of 40 electric buses, the company said in a regulatory filing. This supply order is on an outright sale basis and these buses will be delivered over a period of seven months, Olectra Greentech said.

The value of these electric buses would be Rs 62.80 crore. This order for supply of electric buses is on an outright sale basis and it has be completed in seven months. The company's quarterly net profit at Rs 18.58 crore in September up 145.17 percent from Rs. 7.58 crore a year back.