Ola Electric Mobility Ltd. is in trouble. And that shows in its latest quarterly results.
Consolidated net loss of the Bengaluru-based EV maker widened to Rs 870 crore from Rs 416 crore in the year-ago period, while revenue tanked 62% to Rs 611 crore, according to an exchange filing on Thursday.
Ola Electric Q4 FY25 Highlights (Consolidated, YoY)
Revenue down 61.7% to Rs 611 crore.
Ebitda loss at Rs 695 crore versus Rs 312 crore.
Net loss at Rs 870 crore versus Rs 416 crore.
That Ebitda loss has doubled year-on-year flies in the face of Ola Electric's claims to turn operational profitable in the first quarter of the ongoing fiscal.
For the full fiscal, net loss widened to Rs 2,276 crore as against Rs 1,584 crore in FY24. Revenue fell 9.9% year-on-year to Rs 4,514 crore.
"FY25 saw slower than expected growth, loss in our market share and execution challenges as we attempted to aggressively scale up our sales and service operations," Ola Electric said in a statement accompanying the earnings. "As we enter FY26, we see urban demand returning on the back of tapering inflation and declining interest rates, while we continue to focus our efforts in making the EV revolution more broad-based.”
Other Key Highlights
Targets auto-segment Ebitda profitability through FY26 as against Q1 FY26 claimed earlier.
Delays commercial rollout of Bharat Cell to some time in FY26 from Q1 FY26 claimed earlier.
Expects auto-segment Ebitda breakeven at under 25,000 units from 50,000 units earlier
Cost efficiency measures have helped reduce Ebitda breakeven point to under 25,000
On Thursday, Ola Electric shares closed 0.6% higher at Rs 53.24 apiece on the BSE even as the benchmark Sensex ended the day 0.39% higher at 81,633.02 points., The quarterly results were declared after market hours.
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