Ola Q1 results FY27: Ola Electric reported a mixed performance for the first quarter, with the electric two-wheeler maker narrowing its net loss but witnessing a sharp decline in revenue on a year-on-year basis.
Ola Electric Q1 results FY27
Ola Electric has reported a loss of Rs 336 crore for the quarter, compared with a loss of Rs 428 crore in the corresponding period last year.
The company’s loss narrowed by around 21.5 per cent YoY.
The company’s revenue has stood at Rs 455 crore, compared with Rs 828 crore in the year-ago period, marking a 45 per cent YoY decline.
The entire automotive revenue stood at Rs 455 crore, while the company reported sales revenue of Rs 5 crore.
On a sequential basis, however, Ola Electric said its automotive revenue increased 72 per cent QoQ.
Ola Electric has reported an EBITDA loss of Rs 165 crore, compared with an EBITDA loss of Rs 237 crore in the same quarter last year.
The improvement indicates a reduction in operating losses during the quarter.
Total expenses also declined sharply to Rs 620 crore, compared with Rs 1,065 crore in the year-ago period.
Registrations jump 97% QoQ
In its letter to shareholders, Ola Electric said its registrations grew 97 per cent QoQ.
The company also reported an increase in its electric two-wheeler market share. According to the company, its market share rose to 8.4 per cent from 5.1 per cent in the previous quarter.
The company said the improvement in registrations and market share reflects strengthening demand and its efforts to improve its position in the electric two-wheeler market.
Ola Electric said its automotive gross margin remained sustained at 30.5 per cent during the quarter.
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Ola Electric share price
Ola Electric shares have closed at Rs 41.07 on Friday, down Rs 0.38 or 0.92 per cent, as per the BSE. The stock closed at Rs 41.45 in the previous session and opened at Rs 41.50 on Friday.
During the session, the stock touches a high of Rs 71.24, marking its 52-week all-time high. The stock’s 52-week low stands at Rs 21.21, while the company’s total market capitalisation is around Rs 19,008.87 crore.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
