OLAELEC · Automobile and Auto Components
Ola Electric Mobility Ltd. reported revenue of ₹611 cr for January to March 2025, −61.8% on the year and −41.5% on the quarter. Over the last four quarters revenue comes to ₹4,514 cr, −9.9% on the four before.
Operating profit (EBITDA) was −₹695 cr, a margin of −113.7%, −9,422 bps on the year and −6,973 bps on the quarter. It is the narrowest margin of the last 8 quarters (range −113.7% to −12.5%).
The net loss was ₹870 cr, with earnings per share of −₹1.97.
A vehicle maker's revenue is volumes times average price, and its margin moves with steel, aluminium and rubber costs and with the share of exports and premium models. The quarterly statements do not carry volumes, realisation per vehicle and the export share; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
Operating margin fell sharply on the year. Pricing, input costs, or mix?
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Other income carrying profit, Exceptional items that recur, Finance cost rising, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹873 cr | ₹1,296 cr | ₹1,598 cr | ₹1,644 cr | ₹1,214 cr | ₹1,045 cr | ₹611 cr | ₹828 cr | ₹690 cr | ₹470 cr | ₹265 cr | ₹455 cr |
| YoY | — | — | — | +32% | +39% | −19% | −62% | −50% | −43% | −55% | −57% | −45% |
| EBITDA margin | −49.8% | −23.2% | −19.5% | −12.5% | −31.2% | −44.0% | −113.7% | −28.6% | −29.4% | −57.7% | −106.0% | −36.3% |
| Other income, % of PBT | — | — | — | — | — | — | — | — | — | — | — | — |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | — | — | — | — | — | — | — | — | — | — | — | — |
| Net profit | −₹524 cr | −₹376 cr | −₹416 cr | −₹347 cr | −₹495 cr | −₹564 cr | −₹870 cr | −₹428 cr | −₹418 cr | −₹487 cr | −₹500 cr | −₹336 cr |
| YoY | — | — | — | — | — | — | — | — | — | — | — | — |
| Core profit YoY | — | — | — | — | — | — | — | — | — | — | — | — |
| EPS | −₹2.68 | −₹1.92 | −₹2.13 | −₹1.45 | −₹1.12 | −₹1.28 | −₹1.97 | −₹0.97 | −₹0.95 | −₹1.10 | −₹1.13 | −₹0.73 |
| Flags | · | · | · | ✓ | ✓ | 1 | 1 | 1 | ✓ | 1 | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Ola Electric Mobility Ltd. reported revenue of ₹611 cr (−61.8% on the year) and net profit of −₹870 cr (— on the year) for January to March 2025.
1 check raised a question: Operating margin fell sharply on the year. Pricing, input costs, or mix?
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