Ola Electric Loss Widens to ₹8.70 Billion as Revenue Slump 62% on Year

Ola Electric Mobility Ltd. reported a net loss of ₹8.70 billion for the January–March quarter, widening from ₹4.16 billion a year earlier. Revenue plunged 62% year-on-year and 42% quarter-on-quarter to ₹6.11 billion.

 

Deliveries more than halved to 51,375 units, with premium segment sales falling over 76%. Mass segment deliveries declined 28% to 35,611 units.

 

Despite a 32% drop in total expenditure to ₹13.06 billion, losses deepened. Raw material costs fell 74% to ₹3.50 billion, while other expenses surged 55% to ₹6.80 billion.

 

For 2024–25, Ola Electric posted a net loss of ₹22.76 billion on revenue of ₹45.14 billion, down nearly 10%. Deliveries rose 9% to 359,221 units, aided by the Gen 3 S1 range.

 

The company projects ₹8.00–8.50 billion in June quarter revenue and deliveries of 65,000 units. FY26 will focus on revenue scale and operating leverage for profitability.