Ola Electric Q1 net loss widens to Rs 347 cr; forays into electric motorcycle segment

Revenue from operations jumped 32.26% to Rs 1,644 crore in Q1 FY25 as compared with Rs 1,243 crore in Q1 FY24.

The firm reported loss before exceptional items and tax of Rs 347 crore during the quarter as compared with loss before exceptional items and tax of Rs 265 crore posed in corresponding quarter last year.

The company posted adjusted gross margin of Rs 377 crore for the quarter ended 30th June 2024.

The quarter witnessed the highest ever deliveries of vehicles by the company at 1,25,198 units as against 70,575 units delivered in the same period last year.

The company said that its automotive segment (E2W) posted a strong improvement in EBITDA margin and is close to EBITDA breakeven. Automotive segment EBITDA margin for the quarter was 1.97%, up 632 bps YoY from the 8.29% EBITDA margin for the quarter ended 30th June 2023.

The company announced the integration of its cells in its own vehicles by Q1 FY26.

The increasing scale of operations has benefited the company in the form of lower manufacturing costs and supply chain optimizations. These benefits of scale are further amplified by the company's scalable platform-based product development and manufacturing technology that results in high degrees of commonality across its products.

Meanwhile, the company entered into electric motorcycle segment by launching Roadster, Roadster X and Roadster Pro.

The counter entered into the stock market on 9 August 2024, the scrip listed at Rs 75.99, exhibiting a marginal discount to the issue price of Rs 76.

Ola Electric Mobility is a leading electric vehicle (EV) manufacturer in India, specializing in the vertical integration of technology and manufacturing for EVs and their components, including battery cells.

The scrip surged 16.40% to Rs 128.78 on the BSE.