Ola Electric Mobility's Q4 net loss widens to Rs 870 crore; revenue dives 59%

Ola Electric Mobility Ltd on Thursday recorded a wider consolidated net loss in the January-March 2025 quarter (Q4 FY25). During the three months under review, loss came at Rs 870 crore as against Rs 416 crore in the corresponding period last fiscal.

The pure-play electric vehicle (EV) firm's revenue from operations tumbled 59.48 per cent year-on-year (YoY) to Rs 611 crore in Q4 FY25 from Rs 1,508 crore in the year-ago period. For FY25, the company said its revenue stood at Rs 4,645 crore as against Rs 5,126 crore in FY24.

"With a sharp focus on cost reduction and profitability through Project Lakshya, the company earlier set the target operating cost structure for the auto segment as Rs 110 crore and is now trending at Rs 121 crore in April 2025, and is on track to achieve the target of Rs 110 crore by June 2025," the Bhavish Aggarwal-led company also said.

"Through Project Vistaar and Project Lakshya, the company has been able to structurally reduce its auto segment EBITDA break-even point to under 25K units per month. The lower break-even threshold alongside increasing revenue through industry growth, increasing S1 market share, and introduction of motorcycles enables the company to target auto segment EBITDA profitability through FY26," Ola Electric added.

Separately, the EV firm mentioned that it maintained its market leadership position with 3,59,221 units delivered in FY25, as against 3,29,549 units delivered in FY24, on the back of its improved Gen 3 S1 scooter portfolio, capturing a market share of 30 per cent (as per VAHAN data).

The quarterly results were declared post-market hours today. Shares of Ola Electric settled 0.60 per cent higher at Rs 53.24 earlier in the day.

Founded in 2017, Ola Electric primarily manufactures EVs and certain core components such as battery packs, motors and vehicle frames at the Ola Futurefactory. As of March 2025, promoters held a 36.78 per cent stake in the electric two-wheeler (E2W) player.