Ola Electric reports a slight relief as it pared its losses by 5 per cent year-on-year for Q2FY25 to ₹495 crore from ₹524 crore in the year-ago period . However, the losses have widened by 42.65 per cent from ₹347 crore.
The revenue for the quarter under review stood at ₹1,240 crore, up by 38.5 per cent y-o-y, as against ₹896 crore in the same quarter last year. The company also recorded 98,619 deliveries in the quarter . The mass market portfolio (sub-₹1 lakh) continued to drive momentum and has grown by 15 per cent quarter-on-quarter, boosting EV penetration. Meanwhile, the premium portfolio remains a key revenue driver, said the company in a release.
The company reported consolidated EBITDA margin for the quarter at 28.4 per cent. Operating expenses decreased marginally by 1 per cent q-o-q, excluding one-off costs.
With a portfolio of six models priced between ₹75,000 and ₹1,50,000, the company is now focusing on expanding into other 2W and 3W categories. Over the next two years, it plans to launch 20 new products, with the target of unveiling at least one new product every quarter. Additionally, the company plans to double down on its network of company-owned stores (and co-located service infrastructure), aiming to reach 2,000 stores by March 2025. As of September , it currently operates 782 company-owned stores.