EV maker Ola Electric's Revenue dips 26% Q-o-Q to 
1,214 crore
The operating revenue of Ola Electric, a producer of electric two-wheelers, decreased by 26% to Rs 1,214 crore in Q2 FY25 from Rs 1,644 crore in Q1 FY25.Nonetheless, the company's revenue increased by 39% year over year from Rs 873 crore in Q2 FY24. The business credited a 73.6% increase in deliveries, which reached 98,619 units during Q2 FY25, for the year-over-year gain in a letter to shareholders.
Its cell segment contributed Rs 1 crore, while its automotive segment brought in Rs 1,215 crore. The company's overall revenue for the second quarter of FY25 was Rs 1,314 crore, including Rs 100 crore from other sources.
The biggest expense for the Bhavish Aggarwal-led company was the cost of materials, which increased by 20.3% to Rs 989 crore from Rs 822 crore in Q2 FY24. From Rs 1,341 crore in Q1 FY25, the cost decreased by 26.25% on a quarterly basis.
Employee benefits expenditures totaled Rs 139 crore in Q2 of FY25, with other costs—such as operating and administrative expenses—contributing Rs 465 crore. From Rs 1,308 crore in Q2 FY24 to Rs 1,593 crore in Q2 FY25, the company's overall expenses increased by 21.8%. Sequential comparison showed that overall expenses dropped 13.8% from Rs 1,849 crore in Q1 FY25.
The business reported a net loss of Rs 495 crore overall, up 42.65% from Rs 347 crore in the first quarter of FY25. The losses decreased from Rs 524 crore in Q2 FY24 by 5.5% year over year.
Ather, the closest rival of Ola Electric among venture-funded businesses, reported revenue of Rs 339 crore in Q1 FY25 but a net loss of Rs 183 crore. It has not yet released its Q2 results. In September, the company helmed by Tarun Mehta also submitted its draft IPO documents.
Following a string of market share losses, Ola Electric recovered in October as sales rose over the holiday season. In October, the company sold 41,605 units, increasing its market share from 27% in September to 30% in the final month. This number is still less than its previous market shares, which were 49% in June, 32% in August, and 39% in July.
By the time the stock market closed on November 8, Ola Electric's stock was trading at Rs 72.72, which was almost 54% lower than its mid-August peak of Rs 157.53.
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