15 Nov 2022 , 09:18 AM
The Company has reported an improvement in margins with quarterly EBITDA at Rs43 crore. The electric mobility business of Greaves recorded highest ever quarterly revenues of Rs318 crore, and sales of ~33K units. This reflects the trust enjoyed by the ere brand and the growing adoption of electric mobility in India. Greaves Retail added over 40 new stores in YTD FY23, retailing 15+ brands and continued its growth momentum.
B2C businesses contributed 65% to the overall revenues in this quarter, reflecting success of the diversification strategy. ere the E 2-wheeler brand continued its leadership position and remained within top 3 players in e2W segment.
The auto applications business registered YoY growth of 109%. The non-auto applications registered YoY growth of 17%.
Company reported H1FY23 consolidated revenues of Rs1,359 crore with YoY growth of 126%.
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