Ola Electric shares surge 16% after revenue jumps 32% YoY, motorcycle launch
Ola Electric surged 15.8% to a day’s high of Rs 128 on the BSE after the company announced a 32% YoY increase in revenue for the first quarter of FY25, reaching Rs 1,644 crore. The company also launched its electric motorcycle, the Roadster, on August 15.
Quarterly results
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-112557966»>The company reported a year-on-year (YoY) revenue increase, but the quarterly loss widened to Rs 347 crore, up from Rs 267 crore in the same quarter of the previous year.
The firm's automotive division saw total income increase by 34% to Rs 1,722 crore, though the loss after tax widened to Rs 233 crore from Rs 189 crore a year ago. The battery division reported an income of Rs 5 crore for the quarter, with a loss after tax of Rs 37 crore.
Ola Electric's revenue increased from Rs 1,671 crore in the last quarter of FY24, and its net loss narrowed from Rs 416 crore reported for the quarter ended March 31, 2024.
Electric motorcycle launch
On August 15, the company announced the launch of its electric motorcycles and the integration of its cells in EVs by Q1 FY26.
“Affirming its resolve to make India a global EV and new energy hub, Ola Electric today announced new products and future roadmap across EV and energy verticals. With the launch of Roadster, Roadster X, and Roadster Pro, the company today entered the electric motorcycle segment and further announced the integration of its cells in its own vehicles starting Q1 FY26. The company also showcased the indigenously developed Bharat 4680 cell and battery pack, new Gen-3 platform, and MoveOS 5
