Ola Electric Q4 Results: Losses Double to Rs 870 Crore, Revenue Plummets 62%
Ola Electric’s Q4 Financials: A Mixed Bag
Ola Electric, a leading electric two-wheeler manufacturer, reported a significant widening of its losses in the fourth quarter, with a 109% year-on-year (YoY) increase to Rs 870 crore, compared to Rs 416 crore in the same quarter last year.
Revenue and Deliveries Decline
The company’s revenue from operations declined by 62% YoY to Rs 611 crore, with deliveries falling to 51,375 units from 1.15 lakh units in Q4FY24. The auto EBITDA margin declined steeply to -78.6% versus -9.3% YoY, and the consolidated EBITDA margin stood at -101.4%, reflecting high provisioning costs and reduced operating leverage during the quarter.
Key Highlights and Challenges
- Losses doubled to Rs 870 crore in Q4
- Revenue declined 62% YoY to Rs 611 crore
- Deliveries fell to 51,375 units from 1.15 lakh units in Q4FY24
- Auto EBITDA margin declined to -78.6%
Future Outlook and Strategies
Despite the challenging quarter, Ola Electric remains optimistic about its path to profitability, backed by operational upgrades, a shift to its Gen-3 platform, and entry into electric motorcycles. The company launched the Roadster X, its first EV motorcycle, with a 501 km range and 125 km/h top speed, to broaden adoption beyond urban areas.
Financial Performance and Guidance
For FY25, Ola Electric recorded total deliveries of 3.59 lakh units, up from 3.29 lakh in FY24. Full-year adjusted revenue came in at Rs 4,665 crore, with a consolidated EBITDA margin of -34.6%. The company forecasts improved numbers in Q1 FY26, targeting Rs 800–850 crore in adjusted revenue and a reduced auto EBITDA margin of -10%.
Conclusion and Future Developments
Ola Electric’s Q4 results were impacted by market share pressures, execution challenges, and slower-than-expected industry growth. However, the company is focused on cost efficiencies, increased scale, and a strong direct-to-customer (D2C) network spanning over 4,000 touchpoints. With a total gross cash of around Rs 4,000 crore and exploration of non-dilutive debt, Ola Electric is poised for future growth and profitability.
