Ola Electric Mobility, India’s largest maker of electric two-wheelers, reported on Thursday that its quarterly loss widened as sales fell and it offered deep discounts to beat growing competition.
The company lost Rs. Revenue for the quarter ended March 31 was 8.7 billion rupees ($101.8 million), compared with a loss of 8.7 billion rupees ($101.8 million) a year earlier. 416 crore a year ago.
Since its launch in August 2024, Ola has been grappling with slowing sales, regulatory pressure and competition from established two-wheeler makers.
Ola Electric remains India’s leading electric two-wheeler brand in terms of sales, but its advantage has narrowed in recent months as legacy players such as Bajaj Auto and TVS Motor have launched competitively priced models.
The company has yet to turn a profit.
Its operating income fell 61.8% to Rs. Expenditure in the March quarter was Rs 611 crore, with total expenses falling 31.6% to Rs. 130.6 Crores.
Analysts said Ola’s average revenue per unit sold fell on higher sales of discounted and low-priced cars.
Ola’s vehicle registrations fell over 52% year-on-year to 56,760 units during the quarter. Its entry-level models accounted for 69.3% of sales, up from 43.1% a year ago.
The company said it is considering raising debt of up to Rs. Rs 1,700 crore to refinance existing debt service obligations.
Its shares closed up 0.6% ahead of the results.
Smaller rival Ather Energy narrowed its quarterly loss on strong demand for family scooters.
© Thomson Reuters 2025
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)