Ola Electric Q1 results: Loss widens to Rs 346 cr, revenue at Rs 1,644 cr

The company further announced plans to incorporate its own cell technology into its vehicles starting from Q1 of FY26

Ola Electric Mobility's Q1FY25 loss widened year-on-year (Y-o-Y) to Rs 346 crore from Q1FY24 loss of Rs 268 crore. The company is still trying to break even.

On a quarter-on-quarter (Q-o-Q) basis, the company’s loss came down from Rs 418 crore. The company expects its margins to continue improving. Ola Electric, which made a stock market debut last week, posted a 32.26 per cent growth in revenue from operations at Rs 1,644 crore. Sequentially the revenue grew by 2.8 per cent.

Ola Electric's focus after the IPO would be on improving margins, the company’s MD Aggarwal said in a post-earnings call. He said that with cell integration, the margins will improve. "We have vertically integrated manufacturing and are building all auto components in-house. This is helping us improve margins and this is our strategy," he said.

 

The company further announced plans to incorporate its own cell technology into its vehicles starting from Q1FY26. The company has completed Phase-1A of its cell production facility and is progressing with Phase-1B. It is also investing Rs 1,200 crore to expand capacity from 5 to 6.4 GWh.

With a 48.63 per cent market share, Ola Electric achieved its highest-ever quarterly revenue this quarter. This was driven by the highest-ever vehicle deliveries, with 125,198 units delivered, compared to 70,575 units in the same period last year. The ramp-up in deliveries of the mass-market S1 X scooter portfolio boosted growth, while demand for the existing product line-up (S1 Pro, S1 Air, S1 X+) sustained the momentum.

Ola further said that it will launch its electric motorcycle portfolio for both mass and premium segments during its annual flagship event on August 15. Deliveries are expected to start in four-to-six months (in Q4FY25) while bookings will start from tomorrow. Initial investments for motorcycle production are focused on tooling and R&D, with no significant factory-level investments planned until the company reaches economy of scale.