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Ola Electric’s Q4 revenue halves, losses mount

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BENGALURU: Ola Electric’s revenue dropped by 60 per cent to Rs 649 crore in the March quarter from Rs 1,641 crore in the year-ago period. Its net loss increased to Rs 870 crore in the quarter, compared to Rs 417 crore in the same period of the previous year. Deliveries fell sharply to 51,375 units in the March quarter, down from 1.1 lakh units in the same period. Premium segment deliveries dropped nearly 76 per cent year-on-year to just 15,764 units in the quarter.For FY25, its revenue decreased by 9 per cent to Rs 4,645 crore. Ola’s management attributed the underwhelming performance to weak urban demand.

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