Ola Electric’s fourth quarter net loss doubles to Rs 870 crore

Ola Electric:Two-wheeler electric vehicle (EV) maker Ola Electric on Thursday, May 29, reported that its consolidated net loss for the January-March (Q4) quarter of FY 2024-25 has more than doubled to ₹870 crore, despite a sharp drop in revenue. The net loss was ₹416 crore in the same quarter last year. Revenue from operations declined 62% year-on-year (YoY) to ₹611 crore during the quarter under review. The company’s revenue stood at ₹1,508 crore in the January-March 2024 quarter. Consolidated segment EBITDA loss for the March 2025 quarter stood at ₹658 crore, several times higher than the EBITDA loss of ₹269 crore recorded in the year-ago period. Meanwhile, EBITDA margin stood at a low 101.4%. The company expects its gross margin to improve to around 35% in Q2FY26. It has also targeted auto segment EBITDA profitability by FY26.

Ola has been facing slowing sales, regulatory pressure and competition from established two-wheeler makers since its stock market debut in August 2024. The company is yet to report a profit.

However, for the full fiscal, Ola cited VAHAN data to claim it was the market leader, delivering 3,59,221 units in FY25 as against 3,29,549 units delivered in FY24, garnering a market share of 30%, on the back of its improved Generation 3 S1 scooter portfolio.