Ola Electric Q3 Results: Consolidated net loss widens to ₹564 crore, revenue falls 19%; shares tank over 3%

Ola Electric on Friday reported a widened consolidated net loss of ₹564 crore for the December quarter of the current fiscal year (Q3 FY25) as compared to ₹376 crore in the year-ago quarter.

The company's consolidated revenue from operations stood at ₹1,045 crore, down 19.36% year-on-year (YoY) when compared to Q3 FY24.

On a standalone basis, it posted a net profit of ₹33 crore for Q3 FY25 as against a net loss of ₹14 crore posted in the year-ago period. 

The company’s standalone revenue from operations for the quarter under review stood at ₹1 crore, while its total expenses were at ₹20 crore. 

Ola Electric’s shares, following the Q3 earnings announcement, are trading 3.4% down on the NSE at ₹69.40 apiece. The company's market capitalisation stands at ₹30,611.16 crore.

Key highlights

• The company registered a consolidated quarterly revenue of ₹1,069 crore, and posted a Gross Margin of 20.8% for the automotive sector in Q3 FY25, up 20 basis points (bps) on a quarter-over-quarter (QoQ) basis, Ola Electric said in a press release.

• Ola Electric's new launches include the Gen 3 S1 scooter range with MoveOS 5, Roadster X & Roadster X+ series motorcycles and Ola Gig, Gig+ and S1 Z entry-level scooters.

• In the October-December quarter (Q3 FY25), it delivered 84,029 units and maintained a leadership position with 25.5% market share, the company release added.