OLA Electric Records 26% Q-o-Q Decline in Operating Revenue, But with 39% Y-o-Y and 73.6% Y-o-Y Increase in Revenue and Deliveries
OLA Electric, the India-based electric two-wheeler manufacturer, has shared its financial report at the recently held Q2 FY25 financial report conference. It has been revealed that the company attained a 26% Q-o-Q decline in terms of its operating revenue, however, it also achieved a 39% Y-o-Y increase in revenue and 73.6% Y-o-Y increase in e-scooter deliveries.
Read more about update below.
OLA Electric – Q2 FY25 Financial Report
As per what has been revealed, OLA Electric has recorded a 26% Q-o-Q decline in its operating revenue to INR 1,214 crore in Q2 FY25, from INR 1,644 crore of Q1 FY25. The revenue made from the automotive segment is noted as INR 1,215 crore, with the cell segment contributing INR 1 crore. Via other sources, INR 100 crore was also raised, bringing the total revenue to INR 1,314 crore. Notably, a 39% Y-o-Y increase in revenue from INR 873 crore of Q2 FY24 and 73.6% Y-o-Y increase in e-scooters deliveries reaching 98,619 units in Q2 FY25 are the company’s achievements.
Speaking of expenses, the cost of materials was INR 989 crore in Q2 FY25 (20% higher than Q2 FY24, but 26.25% lower than Q1 FY25), employee benefits cost was INR 139 crore, and other expenses added INR 465 crore. In total, the company’s total expense stood at INR 1,593 crore in Q2 FY25 (21.8% higher than Q2 FY24, and 13.8% lower than Q1 FY25).
Finally, in an overall account, a net loss of INR 495 crore was attained in Q2 FY25 by OLA Electric. Comparing it with the previous quarter and year, the loss increased by 42.65% from Q1 FY25 (INR 347 crore in loss), however, decreased by 5.5% from Q2 FY25 (INR 524 crore in loss).
About the company’s future plans, OLA Electric plans on expanding its product line into more 2W and 3W segments, and aims to introduce 20 new models over the next 2 years. From the 782 company-owned stores in September 2024, the brand is also planning on increasing it to 2,000 in number by March 2025. Through the new Roadster motorcycle series, 3 models and 8 variants are also said to arrive soon with prices ranging from INR 74,999 to INR 2,49,999. Also, the first Roadster motorcycle series product is expected to be delivered in March 2025.
