Ola Electric Mobility's whose IPO was floated at price band between Rs.72 to Rs.76 per share saw flat listing but after the listing, prices rose sharply. The stock hit upper circuit for 2 consecutive days and since the listing the stocks has given retune of more than 70%. Within the week of listing the company has announced its quarterly results, in which its net loss widened compared to the same quarter last year.
The company reported consolidated net loss of Rs 347 crore for Q1 FY25, up from Rs 267 crores which was reported in the year-ago. However, the net loss narrowed on a Q-o-Q basis from Rs 416 crores reported in earlier quarter.
The revenue from operations for the quarter stood at Rs 1,644 crores, which was up by 32.3% from Rs 1,243 crore reported in the corresponding quarter of the previous financial year. The company reported revenue jump from Rs. 1279 crores in Q1 FY24 to Rs.1718 Cr in Q1 FY25. The company reported 34.32% increased in income Y-o-Y and around 3% increase on q-o-q basis.
Ola reported strong improvement in EBITDA margin of Automotive segment (E2W) and is close to EBITDA breakeven. Automotive segment EBITDA margin for the quarter was (1.97) %, up 632 bps Y-o-Y from the (8.29) % EBITDA margin from same quarter year ago. Their Vahaan Market share (E2W) has been increasing every quarter and their current market share stand at 48.63%.
The company has been increasing delivery units on yearly and quarterly basis for this quarter the company reported 77% jump on comparing to yearly deliveries and around 9% jump in quarterly deliveries.
The latest quarter included a one-time expense of Rs 23 crore to account for the drop in incentives after the government halved its subsidies on purchases of EV’s. Ola Electric's depreciation costs have nearly tripled.
On the occasion of Independence Day, the company launched mass and premium segments electric motorcycle ranging from 75k INR to 2.5 Lakh INR. The company also announced integration of its own Bharat 4680 cell into its vehicles starting from this quarter, giving it a strong competitive edge with highly efficient cost structures. The cell is currently under trial production at Ola’s Gig factory. The Bharat 4680 cells possess five times more energy than the extensively used cells in automobile applications currently. The cell has a wider operating window, a longer life and better fast charging capabilities with a 50% charge guaranteed in 13 minutes.
