RattanIndia Enterprises Ltd. announces substantial revenue increase and profit turnaround in Q1 FY25. Meanwhile, Revolt Motors expands its electric motorcycle dealership network and secures government EV subsidy approvals.
14 Aug 2024 | 1948 Views | By Autocar Pro News Desk
RattanIndia Enterprises Ltd. has released its financial results for the first quarter of fiscal year 2025. The company's revenue from operations reached ₹2,494 crore, representing an increase of 93% from the previous quarter (Q4 FY24) and 70% from the same quarter last year (Q1 FY24). The company's Profit After Tax ...
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RattanIndia Enterprises Ltd. has released its financial results for the first quarter of fiscal year 2025. The company's revenue from operations reached ₹2,494 crore, representing an increase of 93% from the previous quarter (Q4 FY24) and 70% from the same quarter last year (Q1 FY24). The company's Profit After Tax (PAT) for Q1 FY25 was ₹851 crore, compared to ₹178 crore in Q1 FY24 and a loss of ₹81.5 crore in Q4 FY24.
The company's e-commerce business is conducted through its wholly-owned subsidiary, Cocoblu Retail Ltd., which operates as a seller on Amazon India. Cocoblu Retail Ltd. reported revenue of ₹1,444 crore for Q1 FY25, up from ₹1,212 crore in Q1 FY24. The subsidiary processed approximately 2.8 crore orders during the quarter, with a cumulative total of over 21 crore orders to date across six product categories.
Revolt Motors, another wholly owned subsidiary of RattanIndia Enterprises Ltd., operates in the electric motorcycle market in India. The company has received approval for electric vehicle subsidies from the Government of India, making it eligible for the current Electric Mobility Promotion Scheme (EMPS) 2024 and the anticipated FAME III subsidy. Revolt Motors has expanded its dealer network to 123 stores across 113 cities in 20 states.
RattanIndia Enterprises appears to be leveraging this partnership to establish a strong foothold in the growing electric vehicle market in India. The expansion of the dealer network suggests a focus on increasing accessibility and visibility of Revolt's products across the country. This aligns with the broader trend of electrification in the Indian automotive sector and the government's push towards more sustainable transportation options.