India's top electric two-wheeler maker Ola Electric reported a wider quarterly loss on Friday, hurt by heavy discounts it offered to fend off rising competition and as it spent on improving the quality of service at its workshops.

Ola Electric's operating revenue fell 19% year-on-year to Rs 1,045 crore. The company mainly earns revenue from electric scooter sales, with battery sales contributing a small portion. Total expenses for the quarter were Rs 1,

India's top electric two-wheeler maker Ola Electric reported a wider quarterly loss on Friday, hurt by heavy discounts it offered to fend off rising competition.

EV maker says despite strong performance fuelled by festival sales, the overall quarter was weak due to "high competitive intensity and service challenges"

Results: Consolidated net loss of the billionaire Bhavish Aggarwal-led company widened to Rs 564 crore even as revenue fell 19.4% to Rs 1,045 crore.

Net Sales at Rs 1.00 crore in December 2024 down 85.71% from Rs. 7.00 crore in December 2023. Quarterly Net Profit at Rs. 33.00 crore in December 2024 up 353.85% from Rs. 13.00 crore in December 2023. EBITDA stands at Rs. 58.00 crore in December 2024 up 627.27% from Rs. 11.00 crore in December 2023.

The company had posted a net loss of Rs 376 crore in the third quarter last fiscal, Ola Electric Mobility Ltd said in a regulatory filing.

Shares of Ola Electric dropped over 3% to INR 69.69 on the BSE after the company reported a 50% increase in its net loss to INR 564 Cr in Q3 FY25 from INR 376 Cr in the year-ago quarter

Bhavish Aggarwal-run Ola Electric Mobility on Friday reported a massive net loss of Rs 564 crore in the third quarter (Q3 FY25), an increase of 13.94 per cent compared to a net loss of Rs 495 crore

Ola Electric shares closed at 71.84 on February 05, 2025 (NSE) and has given -21.23% returns over the last 6 months and -21.23% over the last 12 months.