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Ather expands service network to 500 centres amid Ola Electricโ€™s retail network cuts

EntrackrEntrackr ยท 12d ago
Ather expands service network to 500 centres amid Ola Electricโ€™s retail network cuts
Medial

Ather expands service network to 500 centres amid Ola Electricโ€™s retail network cuts Electric two-wheeler makers Ather Energy Limited and Ola Electric are taking contrasting approaches to network expansion. Ather announced that it has expanded its service network to 500 centres, nearly doubling from 277 in FY25. The company has aligned service expansion with its retail footprint, planning to scale to 700 experience centres by FY26. In contrast, Ola Electric is reducing its physical retail network to around 550 stores from around 700, despite earlier plans to expand to 4,000 stores nationwide. The divergence comes amid different Q3 FY26 performances. Ather reported Rs 954 crore in revenue and cut its losses by 57%, while Ola Electric reported a 55% decline in revenue to Rs 470 crore and reduced losses by a smaller margin through cost controls. Monthly sales trends also underscore the gap: In February 2026, Ather recorded 20,581 vehicle registrations, equating to an 18.43% market share. Ola Electric reported 3,968 registrations, reducing its market share to 3.55%. Recently, Ola Electric's market cap stands at Rs 10,400.74 crore ($1.12 billion), while Ather Energyโ€™s market cap reached Rs 27,760.51 crore ($3.00 billion).

Ola Electric revenue declines 55% to Rs 470 Cr in Q3 FY26

EntrackrEntrackr ยท 1m ago
Ola Electric revenue declines 55% to Rs 470 Cr in Q3 FY26
Medial

Ola Electricโ€™s revenue continues its downward spiral with yet another sharp drop in the latest quarter. The EV makerโ€™s revenue shrank by 55% year-on-year during the third quarter of FY26. However, the Bengaluru-based firm managed to cut its losses by 14% in the period. Ola Electric's revenue from operations reduced to 470 crore in Q3 FY26, compared to Rs 1,045 crore in the previous year of the same quarter, its consolidated financial statements sourced from the National Stock Exchange (NSE) show. Electric scooter sales remained the primary revenue driver for Ola Electric in the first quarter of FY26, while battery sales contributed only a marginal portion. Other income related to batteries and automobiles took the companyโ€™s total revenue of Rs 504 crore in Q3 FY26, down sharply from Rs 1,172 crore in the same quarter last year. Procurement costs accounted for 31% of Ola Electricโ€™s total expenses in Q3 FY26, standing at Rs 309 crore, according to the companyโ€™s disclosure on NSE. Employee benefits decreased by 10% to Rs 92 crore in Q3 FY26. Overall, the company controlled its total expense decreased by 43% to Rs 991 crore in Q3 FY26 from Rs 1,736 in Q3 FY25. Small scale and controlled expenses helped Ola Electric to cut its losses by 14% year-on-year to Rs 487 crore in Q3 FY26, compared to Rs 564 crore in the same quarter last year. On a sequential basis, the companyโ€™s losses increased 17% from Rs 418 crore in Q2 FY26. Last month, Ola Electric's Chief Financial Officer, Harish Abichandani, resigned for personal reasons, according to a regulatory filing. Deepak Rastogi has been approved by the board as the new CFO and Key Managerial Personnel. Ola Electricโ€™s electric two-wheeler market share fell from 24.8% in January 2025 to under 6% in January 2026 as registrations declined. In contrast, Ather Energy increased its share during the period, while TVS Motor and Bajaj Auto maintained steady volumes. The shift indicates a redistribution of market share among established and emerging players. Following the release of its quarterly results, Ola Electric was trading at Rs 31 per share at the end of the trading session. The companyโ€™s market capitalization stood at Rs 13,638 crore ($1.5 billion).

Ola Electric shares sink to all-time low after 47% drop in monthly sales

EntrackrEntrackr ยท 29d ago
Ola Electric shares sink to all-time low after 47% drop in monthly sales
Medial

Ola Electric shares sink to all-time low after 47% drop in monthly sales Shares of Ola Electric Mobility hit an all-time low on Monday, sliding to Rs 23.82 on March 2, as the Bhavish Aggarwal-led electric two-wheeler maker slipped out of the top five players in the Indian EV scooter market amid a sharp fall in monthly sales. According to Vahan data, Ola Electricโ€™s sales plunged over 47% month-on-month in February to 3,968 units, dragging its market share down to 3.55%. The sharp decline pushed the company out of the top five electric two-wheeler manufacturers for the month. The electric two-wheeler market also witnessed a slowdown in February, with total registrations falling more than 9% to 1,11,680 units, largely due to the shorter month. TVS Motor Company continued to lead the segment, clocking registrations of 31,600 units and maintaining a 28.3% market share during the month. Olaโ€™s competitor, Ather Energy retained its third position with 20,581 registrations and 18.43% market share in February. On the financial front, Ola Electric's revenue from operations reduced to 470 crore in Q3 FY26, compared to Rs 1,045 crore in the previous year of the same quarter. Ola Electric cut its losses by 14% to Rs 487 crore in the same period. Ola Electricโ€™s shares are currently trading at Rs 23.92. The companyโ€™s market capitalization stood at Rs 10,528 crore ($1.1 billion).

Ola Electric losses surge 50% to Rs 564 Cr in Q3 FY25, revenue declines

EntrackrEntrackr ยท 1y ago
Ola Electric losses surge 50% to Rs 564 Cr in Q3 FY25, revenue declines
Medial

url: https://entrackr.com/news/ola-electric-losses-surge-50-to-rs-564-cr-in-q3-fy25-revenue-declines-8698803. Content: Ola Electric reported its Q3 FY25 results on Friday, showing a 19.4% year-on-year decline in revenue. At the same time, the company's losses grew by 50%, highlighting a challenging quarter for the SoftBank-backed electric mobility firm. Ola Electricโ€™s revenue from operations decreased to Rs 1,045 crore in Q3 FY25 from Rs 1,296 crore in Q3 FY24, its unaudited consolidated financial statements sourced from the National Stock Exchange show. 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 third quarter of the ongoing fiscal year. For the EV scooter manufacturer, the cost of procurement of materials accounted for 56% of the total cost which stood at Rs 851 crore in Q3 FY24. Employee benefits, advertising, and technical support were some other cost centers, taking the total burn to Rs 1,505 crore in Q3 FY25. A decline in sales and fixed costs caused Ola Electric's losses to rise by 50% in Q3 FY25, reaching Rs 564 crore compared to Rs 376 crore in the same quarter of the previous fiscal year (Q3 FY24). In January, Ola Electric regained its top spot in the electric two-wheeler (EV 2W) segment, capturing a 24.91% market share with 24,330 units sold, according to Vahan data. TVS Motors followed in second place, selling 23,788 units, while Bajaj Auto claimed a 21.80% market share with 21,294 units sold.

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

EntrackrEntrackr ยท 10m 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 companyโ€™s losses more than doubled, indicating the mounting challenges faced by the SoftBank-backed electric mobility firm. Ola Electricโ€™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 Electricโ€™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 firmโ€™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 Electricโ€™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.

Ola Electricโ€™s tech arm to raise nearly $100 Mn via preferential share

EntrackrEntrackr ยท 6m ago
Ola Electricโ€™s tech arm to raise nearly $100 Mn via preferential share
Medial

Ola Electricโ€™s tech arm to raise nearly $100 Mn via preferential share Ola Electric Mobility Limited has announced that its material wholly owned subsidiary, Ola Electric Technologies (OET), has received board and shareholder approval to raise Rs 877.64 crore (nearly $100 million) through issuance of preference shares. According to a stock exchange filing on Tuesday, the fundraise will be executed via the allotment of up to 87.76 crore non-cumulative and non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares (OCRPS), each having a face value of Rs 10, to Ola Cell Technologies (OCT), another wholly owned subsidiary of the company. The issuance will be carried out on a preferential basis through private placement in one or more tranches. This move follows shareholder approval in August, which allowed variation in the objects and utilization of IPO proceeds. At that time, Ola Electric had said it secured approval to reallocate IPO proceeds for capital deployment in Indiaโ€™s electric two-wheeler market. Ola Electric Technologies (OET) is Ola Electricโ€™s core manufacturing and technology arm, leading electric two-wheeler production and battery innovation. OET drives the scaling of Olaโ€™s EV ecosystem, from vehicle platforms to advanced battery technology. Its wholly owned subsidiary, Ola Cell Technologies (OCT), focuses on indigenous cell R&D and large-scale manufacturing, supporting vertical integration and reducing dependence on imported cells. In August, Ola Electric jumped to second position among electric two wheeler manufacturers. The company's operating revenue reduced 50% to 828 crore in Q1 FY26, compared to Rs 1,644 crore in the previous year of the same quarter. Its losses went up 23.3% to Rs 428 crore in Q1 FY26, compared to Rs 347 crore in the same quarter last year. At the end of today's trading session, Ola Electricโ€™s share price traded at Rs 56.95 with a market capitalization of Rs 25,119 crore (approx $2.8 billion).

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