Ola Electric Q3 FY25 Results: Loss Widens to ₹564 Crore, Revenue Falls 19%

Ola Electric reported a net loss of ₹564 crore in Q3FY25, rising from ₹376 crore in the same quarter last year. In the previous quarter (Q2FY25), the company had a net loss of ₹495 crore.

The company’s revenue from operations fell 19.36% year-on-year (YoY) to ₹1,045 crore, compared to ₹1,296 crore in Q3FY24. Ola Electric’s EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) loss widened to ₹460 crore in Q3FY25, up from ₹301 crore in the same period last year.

Market Challenges and Recovery Plans

Ola Electric cited strong festival sales in October, but overall quarterly performance was weak due to competition and service issues. The company claims to have resolved these problems and expects an improved market share and gross margin of 26% in January, up from 20.4% in Q3FY25.

Auto Segment Performance

Automotive gross margin improved by 20 basis points quarter-on-quarter (QoQ) to 20.8%, despite a 14% QoQ revenue drop to ₹1,075 crore. The company benefited from lower bill of materials (BOM) costs and Production-Linked Incentive (PLI) accruals, which contributed a 5 percentage point margin boost.

Higher Costs Impact EBITDA

Excluding exceptional costs like warranty expenses and one-time employee-related costs, consolidated EBITDA fell to -29.2% in Q3FY25 from -19.4% in Q2FY25. Auto segment EBITDA (excluding exceptional items) declined to -18.5% from -12.8% in Q2FY25. Increased marketing expenses, network expansion, and weaker operating leverage were key factors affecting EBITDA.

About Ola Electric Mobility Limited

Established in 2017, Ola Electric Mobility Limited is a company focused on electric vehicles. It manufactures EVs along with key components like battery packs, motors, and vehicle frames at its Ola Futurefactory.

Ola Electric shares, which were listed in August 2024 at ₹76 per share, are currently trading below the IPO price. The stock was listed at ₹76 on NSE and ₹75.99 on BSE. It hit an all-time high of ₹157.53 on August 20, 2024, and a record low of ₹64.68 on January 28, 2025. The stock has declined 13% in the past month and 20% year-to-date (YTD). At 1:45 PM, Ola Electric shares were down 2.50% at ₹70.06 on BSE.

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