Ola Electric: India’s largest electric two-wheeler manufacturer Ola Electric Mobility has suffered a net loss (consolidated net loss) of Rs 564 crore in the third quarter of FY 2024-25. The company had suffered a loss of Rs 376 crore in the same quarter a year ago. The company’s loss has increased by 50% on an annual basis.
The company has released its third quarter results today (Friday, 7 February). Talking about the company’s consolidated revenue from operations, it stood at Rs 1,045 crore in the October-December quarter. It has decreased by 24.01% on an annual basis.
The company had generated a revenue of Rs 1,296 crore in the same quarter a year ago. The amount received from selling goods and services is called revenue.
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Ola Electric: total income decreased by 14.51%
In the October-December quarter, the total income of Ola Electric Limited increased by 14.51% year-on-year to Rs 1,172 crore. In the third quarter of FY 2023-24, the company’s income was Rs 1,371 crore. At the same time, the total expense of the company in the third quarter was Rs 1,505 crore.
Ola Electric: share decreased by 2.42% today
Ola Electric’s share closed 2.42% lower at ₹ 70.10 today. On August 9, the stock was listed on the stock exchange at Rs 76. The company’s market cap is Rs 29 thousand crore.
What is standalone and consolidated?
Companies’ results come in two parts – standalone and consolidated. Standalone shows the financial performance of only one unit. Whereas, consolidated financial reports report the entire company.
Ola Electric Mobility was founded in 2017
Bengaluru-based Ola Electric Mobility was founded in 2017. The company mainly manufactures electric vehicles, battery packs, motors and vehicle frames at the Ola Future Factory.
