Ola Electric reports net loss of Rs 495 cr in Q2

During the quarter, sales increased by 74 per cent year-on-year to 98,619 units as against 56,813 units in the same period last year.

Agencies

Updated:9th Nov, 2024 at 11:55 AM

NEW DELHI: Ola Electric Mobility on Friday reported narrowing of consolidated net loss at Rs 495 crore for the second quarter ended September 30, 2024 aided by higher sales.

The Bengaluru-based firm had reported a net loss of Rs 524 crore in July-September FY24. Revenue from operations rose to Rs 1,214 crore from Rs 873 crore, Ola Electric Mobility said in a regulatory filing.

During the quarter, sales increased by 74 per cent year-on-year to 98,619 units as against 56,813 units in the same period last year.

Ola Electric said it plans to expand its company-owned store (and co-located service infra) network to 2,000 outlets by March 2025.

The company has 782 company-owned stores as on September 2024, it added.

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Ola Electric reports net loss of Rs 495 cr in Q2

During the quarter, sales increased by 74 per cent year-on-year to 98,619 units as against 56,813 units in the same period last year.

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