Ola suffers Rs 347 crore loss in Q1: Electric two-wheeler company’s revenue rises 32%; stock rises 45% after listing

India’s largest electric two-wheeler manufacturer Ola Electric Mobility has suffered a net loss (consolidated net loss) of Rs 347 crore in the first quarter of FY 2024-25. The company had suffered a loss of Rs 267 crore in the same quarter a year ago. The company’s loss has increased by 30% on an annual basis. Talking about the consolidated revenue from the company’s operations, it was Rs 1644 crore in the April-June quarter. It has increased by 32.26% on an annual basis. In the same quarter a year ago, the company had generated a revenue of Rs 1243 crore. The amount received from selling goods and services is called revenue. Ola Electric’s total income increased by 34%
In the April-June quarter, the total income of Ola Electric Limited increased by 34.32% year-on-year to Rs 1718 crore. In the first quarter of the financial year 2023-24, the company’s income was Rs 1279 crore. At the same time, during this period, the total expense of the company was Rs 1849 crore. The company has released the results of the first quarter today (Wednesday, August 14). The stock has risen 45.26% since listing
Ola Electric Mobility’s stock closed 2.61% higher at Rs 110. On August 9, the stock was listed on the stock exchange at Rs 76. It has risen 45.26% since listing. Its all-time high is Rs 129.40, which it made on August 13. Ola Electric Mobility was founded in 2017
Bengaluru-based Ola Electric Mobility was founded in 2017. The company mainly manufactures electric vehicles, battery packs, motors and vehicle frames at the Ola Future Factory. The company had 959 employees (907 permanent and 52 freelancers) as on March 31, 2024.