Ola Electric announced its Q3 results, reporting a narrowing of losses on a year-on-year basis, even as revenue witnessed a sharp decline during the quarter.
Loss Narrows in Q3
The company posted a net loss of ₹487 crore in Q3, compared to a net loss of ₹564 crore in the same quarter last year. This reflects an improvement of around 13.6% YoY, indicating some operational stabilisation despite continued financial pressure.
Revenue Falls 55% YoY
Revenue from operations stood at ₹470 crore in the December quarter, down 55% from ₹1,045 crore reported in the corresponding period last year. The steep fall in topline suggests weaker vehicle deliveries, pricing pressure, or industry-wide demand moderation in the electric two-wheeler segment.
EBITDA Loss Improves Significantly
EBITDA loss narrowed to ₹270 crore in Q3, compared to an EBITDA loss of ₹460 crore in the same period last year. This marks an improvement of nearly 41.3% YoY, highlighting better cost management and operational efficiencies.
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