Ola Electric Q4 Results: Net loss more than doubles to ₹870 crore

Ola Electric Q4 Results: Two-wheeler electric vehicle (EV) manufacturer Ola Electric on Thursday, May 29, informed that its consolidated net loss for the January-March (Q4) quarter of the financial year 2024-25 more than doubled to ₹870 crore amid a sharp decline in topline. The net loss in the corresponding quarter last year stood at ₹416 crore.

The revenue from operations tumbled 62% year-on-year (YoY) to ₹611 crore during the quarter under review. In the January-March 2024 quarter, the company's revenue stood at ₹1,508 crore.

The consolidated segment EBITDA loss for the March 2025 quarter was at ₹658 crore, a multifold rise over the EBITDA loss of ₹269 crore posted in the year-ago period. Meanwhile, the EBITDA margin was down 101.4%.

The company expects its gross margins to improve to approximately 35% in Q2 FY26. It also targets the Auto segment EBITDA profitability through FY26.

Ola's struggling sales

In Q4 FY25, Ola delivered 51,375 units, a decline of 55% over 1,15,386 units in Q4 FY24.

Ola has struggled with slowing sales, regulatory pressure and competition from established two-wheeler makers ever since its stock market debut in August 2024. The company is yet to report a profit.

For the full financial year, however, Ola claimed, quoting VAHAN data, that it was the market leader, 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%.

FY26 Roadmap

Commenting on its roadmap for FY26, Ola said it will focus on scaling revenue and operating leverage as it eyes profitability.

“With a robust product roadmap, vertical integration and R&D focus, and strong distribution and service infrastructure, Ola Electric is well-positioned to drive the next phase of EV adoption in India across both scooters and motorcycles,” the company said.

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