Ola Electric Mobility Limited reported a net loss of ₹2,276 crores for the financial year ending March 31, 2025, compared to ₹1,584 crores in the previous year. The company's consolidated revenue from operations declined to ₹4,514 crores from ₹5,010 crores in FY24.
The Bengaluru-based electric vehicle manufacturer's quarterly performance showed revenue of ₹611 crores in Q4 FY25, down 62% from ₹1,045 crores in the previous quarter. The company's net loss for the quarter stood at ₹870 crores compared to ₹564 crores in Q3 FY25.
Ola Electric's total expenses for FY25 reached ₹6,253 crores, with cost of materials consumed accounting for ₹3,600 crores. Employee benefits expenses were ₹463 crores while other expenses totaled ₹2,082 crores. The company's finance costs increased to ₹366 crores from ₹186 crores in the previous year.
The company completed its initial public offering in August 2024, raising ₹5,275 crores through fresh issue of shares. The funds were earmarked for capital expenditure, debt repayment, research and development, and general corporate purposes. As of March 2025, ₹2,823 crores remained unutilized from the IPO proceeds.
Founded in 2017, Ola Electric became India's largest electric two-wheeler manufacturer by market share. The company operates manufacturing facilities in Tamil Nadu and has been expanding its charging infrastructure network across the country. It went public on NSE and BSE in August 2024.
The company's auditors BSR & Co LLP issued an unmodified opinion on the financial results but highlighted going concern assumptions due to negative operating cash flows of ₹2,391 crores during FY25. Management expressed confidence in the company's ability to continue operations based on available cash reserves and future business projections.
Ola Electric's business segments include automotive operations, which generated most of the revenue, and cell manufacturing through its subsidiary. The company has been investing heavily in battery technology and expanding its product portfolio in the electric mobility sector.
The company's board approved raising up to ₹1,700 crores through non-convertible debentures and other debt securities in May 2025 to support operations and growth plans. This comes as the electric vehicle industry in India continues to evolve with government support and changing consumer preferences.