Ola Electric Mobility reported a loss of ₹347 crore for the April-June quarter, an increase from the ₹267 crore loss reported in the same period last year. Despite the loss, the Bhavish Aggarwal-led company, now publicly listed, experienced a significant boost in its consolidated revenue, which surged by 32% to ₹1,644 crore for Q1 FY25, compared to ₹1,243 crore during the same quarter last fiscal year.
On Wednesday, Ola Electric's shares rose 2.6% to close at ₹111 apiece.
The vehicle deliveries saw a significant increase to 1,25,198 units in this quarter from 70,575 units in the same quarter last year. This was led by ramping up the delivery of its mass market scooter range - S1 X portfolio which contributed significantly to the overall growth.
The electric two-wheeler startup has also seen demand for its current product line—S1 Pro, S1 Air, and S1 X+, it said, hence it was able to continue to post growth throughout the quarter. Almost breaking even, the automotive segment reported an EBITDA margin of 1.97% for Q2.
Ola Electric on Monday said it will begin integrating inhouse battery cells into its vehicles from the first quarter of the financial year 2026, as it gets ready to launch a new electric motorcycle range, aimed at mass and premium segments, on August 15 at its annual marquee event.
It has reported an adjusted gross margin at ₹377 crore, which is 21.94 per cent of its revenues, a strong growth when compared to 13.21 per cent in the year-ago quarter. Ola Electric said it has now scaled up operations, which offers reductions in manufacturing costs and optimized supply chains.
This has been further heightened by the platform-based product development technology of the company and the use of a scalable platform-based manufacturing technology, which was able to result in an extremely high degree of commonality in its products.
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