Gensol Engineering’s arm has secured a Rs 75-crore electric vehicles supply order.
Gensol Engineering arm Gensol EV Lease will provide more than 500 Tata Ace Cargo EVs.
“This substantial order is from an all-electric logistics company. An initial batch of 20-plus EVs have already been leased with the remaining cars to be deployed over the next six months across five states. In addition, we are working with customers in the PSU, last-mile delivery, and employee transportation business with a leasing requirement of 100-plus electric vehicles,” the company said in a regulatory filing.
In its results for the April-June quarter, the company reported a 42.15 percent on-year increase in revenue from operations at Rs 145 crore.
Net profit for the quarter was flat at Rs 10 crore.
The operating profit margins for the quarter expanded by 1000 basis points on a yearly basis to 25 percent.
Gensol Engineering is engaged in the business of providing engineering and consulting services in the renewable energy sector.
The company specializes in services related to solar power projects, including design, engineering, and project management.
