Ola Electric Mobility reported a net loss of ₹347 crore for the quarter ending June 30, 2024, marking a 30% increase in losses from ₹267 crore in the same period last year. However, the company, which recently made its debut on the stock market, saw its consolidated revenue from operations rise by 32% year-on-year to ₹1,644 crore, up from ₹1,243 crore in Q1 FY24.
Despite the increased losses, Ola Electric’s shares closed 2.6% higher on August 14 at ₹111 per share on the BSE. The company’s EBITDA loss for the quarter stood at ₹205 crore, a slight improvement compared to the ₹218 crore loss reported in Q1 FY24.
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Source: Moneycontrol
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