Ola Electric posts wider loss on discounts, improving service quality: Report 

It reported a loss of 5.64 billion rupees ($64.51 million) in the October-to-December quarter, compared with a loss of 3.76 billion rupees a year earlier.

Autocar Pro News Desk By Autocar Pro News Desk calendar 07 Feb 2025 Views icon2359 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Ola Electric posts wider loss on discounts, improving service quality: Report 

Ola Electric reported a wider quarterly loss on the back of heavy discounts to counter rising competition and on improving the quality of services at the workshops, Reuters reported. 

The electric two-wheeler maker that counts SoftBank as one of its investors,  reported a loss of 5.64 billion rupees ($64.51 million) in the October-to-December quarter, compared with a loss of 3.76 billion rupees a year earlier, the newswire noted. 

The company's shares fell 4% post results. 

Ola Electric, which is under regulatory scanner for the quality of service at its workshops, incurred a one-time cost of 1.1 billion rupees to address the issue.

"October saw strong performance fuelled by festival sales, however the overall quarter was weak due to high competitive intensity and service challenges," the company said.

Ola Electric's entry-level models made up one-third of its volumes, higher than a mere 4% a year before, the newswire noted. 
 

Tags: Ola Electric
RELATED ARTICLES
TVS, TAFE Succession Lines Get Clearer

auther Autocar India calendar17 Mar 2025

Sudarshan Venu to remain in charge of TVS’ two-wheeler and finance businesses, with sister Lakshmi Venu getting charge o...

Gabriel India Announces Resignation of CFO Rishi Luharuka

auther Arunima Pal calendar17 Mar 2025

Luharuka cited his decision to pursue professional opportunities outside the company as the reason for his resignation.

Mercedes-Benz Launches Mercedes-Maybach SL 680 Monogram Series at ₹4.2 Crore in India 

auther Arunima Pal calendar17 Mar 2025

The Mercedes-Maybach portfolio in India now includes the S 680 Night Series, GLS 600 Night Series, EQS 680 Night Series,...