Ola Electric Mobility Ltd on May 29 said its net loss for the March quarter widened to Rs 870 crore from Rs 416 crore in the year-ago period.
The electric scooter maker's revenue in Q4FY25 fell 62% to Rs 611 crore as compared to Rs 1,598 crore in Q4FY24.
On May 29, shares of Ola Electric on BSE closed 0.6 percent higher at Rs 53.24 apiece.
"FY26 will be focused on scaling revenue and operating leverage as the company marches towards sustainable profitability. With a robust product roadmap, vertical integration and R&D focus, and strong distribution and service infrastructure, Ola Electric is well positioned to drive the next phase of EV adoption in India across both scooters and motorcycles," said the company in a stock exchange filing.
Ola's vehicle registrations fell more than 52% year-on-year to 56,760 units in the quarter. Its entry-level models made up 69.3% of volumes, higher than 43.1% a year before.
The company said it is exploring a debt raise of up to Rs 1,700 crore to refinance existing debt repayment obligations.
The company said it is targeting auto segment EBITDA profitability through FY26.
Q1FY26 gross margins estimates showed further improvement of 10 pp over Q4FY25 and company expects auto segment EBITDA break-even now at under 25,000 units, it said.
"In FY25, Ola Electric delivered 3,59,221 units over 3,29,549 units in the same period last year,
maintaining leadership in the E2W segment and driving higher EV penetration," said the company.
The rollout of Gen 3 in Q4FY25 was a key driver of the company’s Gross Margins improvement. Q1FY26 Gross Margins showed an improvement of 10 pp over Q4FY25 which will further be helped by the scale up of the Gen 3 platform. Notably, this performance does not include PLI on Gen3, which is expected to accrue in Q2FY26 vs 100% of the product portfolio accruing PLI in Q3FY25. The company expects its Gross Margins to improve to
approximately 35% in Q2FY26 with PLI," it said.
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