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Ola Electric losses surge 2X to Rs 862 Cr in Q4 FY25, revenue declines 62%

EntrackrEntrackr · 1m ago
Ola Electric losses surge 2X to Rs 862 Cr in Q4 FY25, revenue declines 62%
Medial

Ola Electric saw a 62% year-on-year decline in revenue in Q4 FY25, while its losses surged 106%, underscoring a tough quarter for the SoftBank-backed electric mobility company. Ola Electric witnessed a turbulent financial performance during the fourth quarter of FY25, as its revenue saw a sharp year-on-year decline of 62%. In parallel, the company’s losses more than doubled, indicating the mounting challenges faced by the SoftBank-backed electric mobility firm. Ola Electric’s revenue from operations decreased to Rs 611 crore in Q4 FY25 from Rs 1,598 crore in Q4 FY24, its consolidated financial statements sourced from the National Stock Exchange show. For the full fiscal year (FY25), Ola Electric’s operating revenue decreased 10% to Rs 4,514 crore in FY25 from Rs 5,010 crore in FY24. Income from the sale of electric scooters was the sole source of revenue for Ola Electric while the collection from the sale of batteries contributed only a small portion in the last quarter of the previous fiscal year. For the EV scooter maker, material procurement made up 33% of the total costs at Rs 527 crore in Q4 FY25. Other major expenses included employee benefits, advertising, and technical support, pushing the total quarterly burn to Rs 1,598 crore. For the full fiscal year ending March 2025, total expenses rose to Rs 7,185 crore. A higher decline in sales caused Ola Electric's losses to rise by 106% in Q4 FY25, reaching Rs 862 crore compared to Rs 418 crore in the same quarter of the previous fiscal year (Q4 FY24). For FY25, the firm’s losses stood at Rs 2,276 crore in FY25, up from Rs 1,584 crore in FY24. Recently, Ola Electric Mobility has approved a plan to raise up to Rs 1,700 crore through debt instruments. The Bhavish Aggarwal-led company secured the second position in the electric two-wheeler segment in April, with TVS Motor emerging as the market leader. For the first time, Ather Energy has surpassed Ola Electric in quarterly revenue. In Q4 FY25, Ather reported an operating revenue of Rs 676 crore, ahead of Ola Electric’s Rs 611 crore. At the close of today's trading session, Ola Electric's stock was priced at Rs 53.20, giving the company a market capitalization of Rs 23,465 crore.

IPO-bound Ather converts itself into public entity

EntrackrEntrackr · 1y ago
IPO-bound Ather converts itself into public entity
Medial

Electric scooter manufacturer Ather Energy has converted itself into a public company. This marks the company’s concrete step towards a definitive initial public offering (IPO) plan. The board at Ather has approved the resolution to change the company’s status from private to public. Its name has now changed from Ather Energy Private Limited to Ather Energy Limited. The company recently raised Rs 286 crore ($34 million) in a mix of debt and equity through venture debt and co-founders. As per the startup data intelligence platform TheKredible, Hero Moto Corp is an associate company of Ather and controls around 38% stake with its recent investment of Rs 124 crore ($15 million) which materialized early this month. It has raised over $550 million to date and was valued at $750 million during its Series E round. According to Vahan data, Ather was the fourth largest two-wheeler EV manufacturer which controlled 9.45% market share in May. Ola Electric maintained the top position followed by TVS and Bajaj. Ather sold 6,024 units in the last month, up from 4,000 units in April. In March, its total sales stood at 17,000 units. Ather reported a flat scale during the fiscal year ending March 2024. Its revenue from operations decreased by a modest 1.5% decrease to Rs 1,754 crore in FY24 from Rs 1,781 crore in FY23. It competes with Ola Electric which got SEBI’s nod for its $660 million initial public offering this month. Ola Electric grew at an exponential rate in FY23 as its revenue from operations spiked seven-fold to Rs 2,631 crore in FY23. TVS, Hero Electric, River, and Okinawa are some other competitors of Ather.

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