India's top electric two-wheeler maker Ola Electric reported a wider quarterly loss on Friday, hurt by heavy discounts it offered to fend off rising competition. The SoftBank-backed firm reported a loss of 5.

Results: Consolidated net loss of the billionaire Bhavish Aggarwal-led company widened to Rs 564 crore even as revenue fell 19.4% to Rs 1,045 crore.

Shares of Ola Electric dropped over 3% to INR 69.69 on the BSE after the company reported a 50% increase in its net loss to INR 564 Cr in Q3 FY25 from INR 376 Cr in the year-ago quarter

India's top electric two-wheeler maker Ola Electric reported a wider quarterly loss on Friday, hurt by heavy discounts it offered to fend off rising competition and as it spent on improving the quality of service at its workshops.

In the previous quarter ending September 2024, Ola Electric had faced a net loss of ₹495 crore. There was also a decline in its operational revenue for Q3 FY25. Revenue declined by 19.36% to ₹1,045 crore from ₹1,296 crore YoY.

Ola Electric Mobility’s net loss increased to Rs 564 crore in Q3, up from Rs 376 crore last year, with revenue falling 19% to Rs 1,045 crore. The comp

Bhavish Aggarwal-run Ola Electric Mobility on Friday reported a massive net loss of Rs 564 crore in the third quarter (Q3 FY25), an increase of 13.94 per cent compared to a net loss of Rs 495 crore