New Delhi — Ola Electric reported a sharp financial setback in the fourth quarter (Q4) of FY25, with net losses doubling and revenue dropping significantly on a year-on-year basis.
Led by Bhavish Aggarwal, the electric vehicle manufacturer posted a net loss of ₹870 crore for the January–March 2025 period, compared to ₹416 crore in the same quarter of the previous fiscal (Q4 FY24), according to its stock exchange filing.
Revenue from operations fell sharply to ₹611 crore, down 61.8% from ₹1,598 crore in Q4 FY24. This marks one of Ola Electric’s weakest quarterly revenue results since it began delivering electric two-wheelers commercially in late 2021.
The downturn comes amid intensifying competition in the EV scooter market, uncertainty over government subsidies, and ongoing inventory corrections at dealerships.
For the full financial year FY25, the company’s revenue also declined, falling to ₹4,645 crore from ₹5,126 crore in FY24.
Despite the poor performance, Ola Electric said it is working to improve profitability through cost-cutting measures under its internal initiative, Project Lakshya. The company stated that the auto segment’s monthly operating costs had already dropped to ₹121 crore in April 2025, with a goal of bringing it down to ₹110 crore by June 2025.
It also highlighted progress under Project Lakshya and Project Vistaar, which have helped reduce the EBITDA break-even point for its auto business to below 25,000 units per month.
“With the launch of new electric motorcycles and increasing sales of its third-generation S1 scooters, the company is targeting EBITDA-level profitability in its auto business during FY26,” Ola Electric stated in its filing.
The company’s Q4 results were released after market hours. Earlier in the day, Ola Electric’s stock closed up 0.60% at ₹53.24 on the Bombay Stock Exchange (BSE).
With inputs from IANS