Ola Electric FY25 revenue declines 9% to ₹4,645 cr; margins improve as company targets FY26 profitability
Ola Electric reported a 9 per cent decline in revenue for the financial year ended March 31, 2025, with total income falling to ₹4,645 crore from ₹5,126 crore in FY24. The company's net loss increased 22 per cent year-on-year to ₹870 crore, up from approximately ₹713 crore last year.
Despite the decline in revenue and rise in losses, Ola Electric posted a 38 per cent year-on-year improvement in gross margins—from 14.8 per cent in FY24 to 20.5 per cent in FY25. Q1 FY26 margins further improved by 10 percentage points over Q4 FY25. The company expects gross margins to rise to around 35 per cent in Q2 FY26, aided by the scale-up of its Gen 3 platform and anticipated Production Linked Incentive (PLI) accruals.
Break-even point reduced
According to the company's statement, it maintained its leadership in the electric two-wheeler (E2W) segment, delivering 3,59,221 units in FY25 compared to 3,29,549 units in FY24, representing a 30 per cent market share (as per VAHAN data).
The company has reduced its Auto segment EBITDA break-even point to under 25,000 units per month through internal cost and network optimisation initiatives—Project Lakshya and Project Vistaar. The Auto segment operating cost was ₹121 crore in April 2025, with a target of ₹110 crore by June 2025.
With the ramp-up of Gen 3 scooters, strong uptake of the mass-market S1 X model, and the launch of the Roadster X motorcycle, Ola Electric said it is on track to achieve segment profitability in FY26.>
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