Ola Electric's Q3 losses widen to Rs 564 crore, revenue declines 19.4%
Ola Electric's Q3 FY 25 revenue declined by 19.4 percent to Rs 1,045 crore YoY
ADVERTISEMENT
Ola Electric Mobility Ltd announced its third quarter FY 25 result on Friday. The 2-wheeler EV maker's losses widened to Rs 564 crore in Q3 from Rs 376 crore in the corresponding quarter last fiscal.
In the September quarter of FY 25, Ola Electric's losses stood at Rs 495 crore.
Besides, the Q3 FY 25 revenue declined by 19.4 percent to Rs 1,045 crore YoY. In Q1 and Q2 FY 25, Ola Electric's revenue was at Rs 1,644 crore and Rs 1,214 crore, respectively.
Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) stood at a loss of Rs 460 crore, from a loss of Rs 301 crore in the year-ago quarter.
In a BSE filing, the company said it expected a path to profitability, driven by improvements in Gross Margin, Optimization in Operating Costs, and Operating Leverage through product portfolio expansion, category expansion (motorcycles, Gig &Z), and technology leadership.
In January 2025, Ola Electric launched the S1 Gen 3 products. The S1 Portfolio now spans 14 products across Gen 2 and Gen 3.
The company entered the motorcycle market this month with the launch of its EV motorcycle portfolio including Roadster X and Roadster X+. The company launched these motorcycles in five battery pack conjurations with deliveries starting mid-March 2025. With the launch of the Gen 3 scooter portfolio and its entry into the motorcycle market, Ola Electric's portfolio comprises 14 scooters and 5 motorcycle variants.
During the quarter 3, the company delivered 84,029 units as against 86,775 units in the same period last year.
Shares of Ola Electric Mobility Ltd were down 3.98, trading at Rs 69 on BSE at 2:20 pm IST.
