Ola Electric logs 32% y-o-y growth in Q1 revenue; stock zooms ~19%

16 Aug 2024 , 01:46 PM

Ola Electric’s shares rose as much as 19% to a new 52-week high of ₹133.08 on the BSE after the firm reported a 32% YoY rise in sales for the first quarter of FY25, hitting ₹1,644 Crore. On 15 August, the business also introduced the Roadster, an electric motorcycle.

The company recorded a year-on-year (YoY) revenue gain, but the quarterly loss increased to ₹347 Crore from ₹267 Crore in the same period last year.

The firm’s automotive segment saw overall income climb by 34% to ₹1,722 Crore, while the after-tax loss increased to ₹233 Crore from ₹189 Crore the previous year. The battery division recorded a quarterly income of ₹5 Crore and a loss after tax of ₹37 Crore.

Ola Electric’s sales climbed from ₹1,671 Crore in the fourth quarter of FY24, while its net loss decreased from ₹416 Crore reported for the quarter ending March 31, 2024.

On August 15, the business announced the introduction of its electric bikes and the integration of its cells into EVs by the first quarter of FY26.

The company’s Roadster lineup includes the Roadster X, Roadster, and Roadster Pro, with pricing starting at ₹74,999, ₹1,04,999, and ₹1,99,999, respectively.

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