Greaves Cotton LTD has declared its consolidated revenues of INR 660 crore for the quarter ended June 30, 2022, recording a healthy YoY growth of 188% over Q1FY22. Greaves Cotton LTD reported hike in profit with EBITDA at INR 38 crores and Profit after tax at INR 16 crores. The new businesses continue to see potential growth with 56% revenue contribution to the overall business in Q1FY23. The retail sales of E-Mobility business stood at 29,577 units for this quarter, up by 19 % against Q4FY22. Ampere increased its market share to 15.5% as of end June 2022 and emerged as the No.2 player in e2W segment.
The quarter-on-quarter performance hike is led by the Greaves Cotton’s main business milestones like rolling out 50,000th Ampere electric scooter from the newly set up Ranipet facility, completion of growth capital infusion with Abdul Jameel Latif’s investment under Electric Mobility segment, expansion of the multi-brand EV retail stores and higher earnings from the non-auto engine business.