Bhavesh Aggarwal’s Ola Electric Mobility’s share price is in focus as the electric two-wheeler maker announced its Q3FY25 financial results. It reported a further increase in its net loss at Rs 564 crore for the third quarter of FY25 from loss of Rs 376 crore in the same quarter last year.
After announcing its Q3FY25 earnings, Ola Electric’s share price dropped sharply, hitting an intraday low of Rs 68.30.
Ola Electric’s Q3FY25 results
Ola Electric reported a net loss of Rs 564 crore in Q3FY25, widening from Rs 376 crore a year ago. Revenue fell 19% YoY to Rs 1,045 crore from Rs 1,296 crore. In the previous quarter (Q2FY25), the company had reported a net loss of Rs 495 crore.
In an exchange filing Ola Electric stated that the “company expects their path to profitability to be driven by improvements in Gross Margin, Optimization in Operating Costs and Operating Leverage through product portfolio expansion, category expansion (motorcycles, Gig &Z) and technology leadership.”
Deliveries also slipped during the quarter. The number of vehicles delivered by the Company stood at 84,029 units in Q3 as against 86,775 units delivered in the same quarter last year. However, the company has expanded the distribution network to over 4,000 touchpoints by December 2024 to cater to the increasing demand for its scooters and the motorcycle portfolio.
In parallel, with its distribution growth, the company has been heavily focused on enhancing its service infrastructure to provide a seamless ownership experience. According to the management, it expects these measures to help spruce up the sales numbers.
Ola share price movement since listing
Ola share price is not just down today, even over the past five days, Ola share price has dropped 6.31%, and over the last month, it has declined 10.33%.
Ola Electric’s share price has ranged between a 52-week high of Rs 157.40 and a low of Rs 64.60.
The two-wheeler EV maker made its stock market debut on August 9, 2024, after the IPO raising Rs 6,145.56 crore. The share of the company was listed at Rs 76 on the NSE and Rs 75.99 on the BSE.
Ola Electric’s latest launches
On February 5, Ola Electric unveiled the Roadster X and Roadster X+ electric motorcycles. The Roadster X comes with three battery options – 2.5 kWh, 3.5 kWh, and 4.5 kWh. Meanwhile, the Roadster X+ is available with 4.5 kWh and 9.1 kWh battery variants.
The Roadster X+ boasts a range of 501 km, while the Roadster X can travel up to 252 km on a single charge.
Prior to this latest launch, on January 31, Ola Electric launched its Gen 3 S1 series, featuring four new scooters – S1 X, S1 X+, S1 Pro, and S1 Pro+. These models come with a mid-drive motor, chain drive, dual ABS, and brake by wire technology.
Furthermore, the EV maker is also set to roll out MoveOS 5 in mid-February, introducing new features such as smartwatch app, smart park, road trip mode, live location sharing, emergency SOS and so on.