Ola Electric Q4 Loss Expands Sharply to ₹870 Crore as Revenue Collapses

Ola Electric Mobility Ltd, one of the largest electric vehicle (EV) makers, posted its fourth quarter ended March 31, 2025 (Q4 FY25) financials, showing the widening of its consolidated net loss in tandem with a steep drop in revenue. The pure-play EV company reported its quarterly results. Despite the poor results, the stock of Ola Electric closed in the green at  ₹53.24, up 0.60%.

Key Financial Figures

For the quarter under review, Ola Electric had a consolidated net loss of ₹ 870 crore. This is more than two times the net loss of ₹ 416 crore in the same quarter of the last fiscal year (Q4 FY 24). Revenue from operations also plummeted dramatically, falling to ₹ 611 crore in Q4 FY25 compared to ₹ 1,508 crore that was posted in the corresponding year-ago quarter (Q4 FY24). The revenue fall was around 59.48 per cent to 62 percent year-on-year.

For the fiscal year ending 2025, revenue for the firm was at ₹ 4,645 crore, down from ₹ 5,126 crore in FY24.

Operational Performance & Market Position

Operationally, Ola Electric shipped 51,375 units in Q4 FY25. That was a 55 percent decrease from 1,15,386 units shipped in Q4 FY24.

While there was a quarter-on-quarter decline, the company said it retained its market leadership position during FY25. Ola Electric produced a total of 3,59,221 units in FY25, up from 3,29,549 units produced in FY24. This quarter-on-quarter growth in full-year production was backed by its enhanced Gen 3 S1 scooter range. Each quarter in FY25, according to VAHAN data, the company captured a 30 per cent market share.

 Each quarter, Strategic Focus on Profitability

Against the backdrop of the findings, Ola Electric emphasized strategic efforts at cost-cutting and profitability. The firm's "Project Lakshya" is directly dedicated to cost-cutting. As part of this, the target cost structure for the auto business was fixed at ₹ 110 crore. The company claimed to have been trending at ₹ 121 crore as of April 2025 and is on track to achieve the Rs 110 crore target by June 2025.

Together with "Project Vistaar," these programs have reduced the auto segment's EBITDA break-even point structurally to less than 25,000 units per month. Ola Electric is aiming auto segment EBITDA profitability by FY26. This target should be underpinned by the reduced break-even level, expected industry growth, higher S1 market share, and proposed launch of motorcycles.

Company Background

Founded in 2017, Ola Electric manufactures EVs and key components like battery packs, motors, and frames at its Ola Future Factory. As of March 2025, promoters held a 36.78% stake in the electric two-wheeler company. Ahead of its quarterly results, the stock ended the day slightly higher at   ₹ 53.24, up 0.60%.

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