Ola Electric Q4 results: Loss widens to ₹870 crore, revenue declines 59%

The revenue from operations declined 59.5 per cent to ₹611 crore in Q4FY25, the company had reported the same as ₹1,598 crore in the corresponding quarter last year.

Ola Electric reported a 38 per cent year on year improvement in gross margins for the financial year 2024–25 (FY25). 

The company expects gross margins in the first quarter of FY26 (Q1 FY26) to improve by an additional 10 per cent over the fourth quarter of FY25 (Q4 FY25).

The company also highlighted that through initiatives like Project Vistaar and Project Lakshya, it has successfully reduced the Auto segment EBITDA break-even point to below 25,000 units per month, further supporting its path to profitability.

In FY25, Ola Electric delivered 359,221 units, marking a 9 per cent year on year increase from 329,549 units in FY24, thereby maintaining its leadership position in the electric two-wheeler (E2W) segment and contributing to higher electric vehicle penetration. 

The mass adoption of EVs was driven largely by the success of the S1 X model, which achieved deliveries of 1,96,123 units in FY25, reflecting a more than 3.5-fold year on year increase from 53,083 units in FY24.

The company also expanded its product lineup with the launch of the Gen 3 S1 scooters and Roadster X motorcycles.

In addition to product and sales growth, Ola Electric expanded its distribution network to over 4,000 touchpoints, establishing itself as India’s largest EV distribution network with significant reach into Tier 3 and rural markets. 

The company also made strides in domestic cell manufacturing, with its Bharat Cell production entering final testing ahead of the planned commercial rollout in FY26.