Ola Electric Narrows Q2 Loss to ₹495 Crore with Strong Sales Growth and Lower Input Costs

Ola Electric, one of the leading players in India’s electric vehicle (EV) market, has reported its results for Q2 FY25, showing a significant improvement in financial performance. The company’s net loss narrowed to ₹495 crore during the July-September quarter, compared to a loss of ₹524 crore in the same period the previous year, reflecting a positive shift in its financial health.

Ola Electric’s revenue surged by 39% year-on-year, reaching ₹1,214 crore, up from ₹873 crore in Q2 FY24. This growth was largely attributed to the company’s strong performance in the EV two-wheeler market, where it maintains a dominant position. Ola Electric achieved impressive sales, with retail sales hitting 50,000 units in October alone, maintaining a market share of 30% in India’s EV two-wheeler sector.

In terms of deliveries, Ola Electric reported 98,619 two-wheelers delivered in Q2 FY25, a 73.6% increase compared to the same period last year. This surge in deliveries further cements Ola Electric’s leadership in the EV market. The company highlighted that its premium product portfolio continues to be a key contributor to its revenue, as the higher-margin models perform well in the market.

Additionally, the company benefited from a reduction in raw material costs, which decreased by 18.2% during the quarter. This decline in input costs played a crucial role in reducing the company's losses, allowing Ola Electric to achieve stronger financial results despite ongoing challenges.

Ola Electric is also gearing up for the launch of its electric motorcycles, which were introduced earlier this year. The company plans to begin deliveries of these new models by March 2025, which is expected to further boost sales and expand its product offering in the fast-growing EV market.

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Despite a challenging market environment for the Indian edtech sector, Ola Electric's growth in the two-wheeler market is a testament to the growing demand for electric vehicles in India. With its strong sales figures, commitment to innovation, and a competitive pricing strategy, Ola Electric is well-positioned to continue its leadership in the EV space.