Ola Electric losses surge 2X to Rs 862 Cr in Q4 FY25, revenue declines 62%

Ola Electric witnessed a turbulent financial performance during the fourth quarter of FY25, as its revenue saw a sharp year-on-year decline of 62%. In parallel, the company’s losses more than doubled, indicating the mounting challenges faced by the SoftBank-backed electric mobility firm.

Ola Electric’s revenue from operations decreased to Rs 611 crore in Q4 FY25 from Rs 1,598 crore in Q4 FY24, its consolidated financial statements sourced from the National Stock Exchange show.

For the full fiscal year (FY25), Ola Electric’s operating revenue decreased 10% to Rs 4,514 crore in FY25 from Rs 5,010 crore in FY24.

Income from the sale of electric scooters was the sole source of revenue for Ola Electric while the collection from the sale of batteries contributed only a small portion in the last quarter of the previous fiscal year.

For the EV scooter maker, material procurement made up 33% of the total costs at Rs 527 crore in Q4 FY25. Other major expenses included employee benefits, advertising, and technical support, pushing the total quarterly burn to Rs 1,598 crore. For the full fiscal year ending March 2025, total expenses rose to Rs 7,185 crore.

A higher decline in sales caused Ola Electric's losses to rise by 106% in Q4 FY25, reaching Rs 862 crore compared to Rs 418 crore in the same quarter of the previous fiscal year (Q4 FY24). For FY25, the firm’s losses stood at Rs 2,276 crore in FY25, up from Rs 1,584 crore in FY24.

Recently, Ola Electric Mobility has approved a plan to raise up to Rs 1,700 crore through debt instruments. The Bhavish Aggarwal-led company secured the second position in the electric two-wheeler segment in April, with TVS Motor emerging as the market leader.

For the first time, Ather Energy has surpassed Ola Electric in quarterly revenue. In Q4 FY25, Ather reported an operating revenue of Rs 676 crore, ahead of Ola Electric’s Rs 611 crore. The Tarun Mehta-led company was listed on the stock exchange on May 6.

At the close of today's trading session, Ola Electric's stock was priced at Rs 53.20, giving the company a market capitalization of Rs 23,465 crore.