Ola Electric Reports Q3 FY25 Results with Declining Revenue

Ola Electric has revealed its financial performance for Q3 FY25, noting a significant decline in revenue by 19.4% year-on-year. The losses for the SoftBank-supported electric mobility company have increased by 50%, marking a tough period for the firm.

Q3 FY25 Revenue Details

According to the unaudited consolidated financial statements available from the National Stock Exchange, Ola Electric’s revenue from operations fell to Rs 1,045 crore in Q3 FY25, down from Rs 1,296 crore in Q3 FY24.

The primary source of income for Ola Electric stemmed from the sale of electric scooters, while revenue from battery sales accounted for just a minor fraction in the third quarter of this financial year.

Cost Breakdown

For Ola Electric, the procurement of materials represented 56% of the total expenses, which was recorded at Rs 851 crore in Q3 FY24. Other significant cost areas included employee benefits, advertising, and technical support, contributing to a total expenditure of Rs 1,505 crore in Q3 FY25.

Increase in Losses

The combination of lower sales and fixed costs led to a steep rise in losses for Ola Electric, which surged by 50% in Q3 FY25, reaching Rs 564 crore compared to Rs 376 crore in the same quarter of the previous fiscal year (Q3 FY24).

Market Position in the Electric Two-Wheeler Segment

In the electric two-wheeler segment, Ola Electric regained its leading position in January, achieving a market share of 24.91% with the sale of 24,330 units, as reported by Vahan data. TVS Motors held the second spot, selling 23,788 units, while Bajaj Auto captured a market share of 21.80% with 21,294 units sold.

Current Trading Status

Ola Electric is currently priced at Rs 70 (as of 01:57 PM), with an overall market capitalization of Rs 30,902 crore, which is approximately $3.67 billion.