The new initiatives have delivered a cost reduction of ₹90 crore per month.
These initiatives have also reduced the average vehicle inventory from 35 to 20 days. Additionally, the delivery time for customers has been shortened from 12 days to 3-4 days.The vehicle registration process transformation is in its final stages. The company’s daily registrations have improved significantly, increasing to over 800 per day and crossing the average daily sales for Jan’25 – Feb’25.
The company reported its December quarter results on February 7, where its losses widened compared to the same quarter last year.
Ola Electric’s Net loss for the quarter stood at ₹564 crore, which was wider than the loss of ₹376 crore during the same quarter last year. The figure is also higher than the ₹495 crore loss it had reported in the September quarter.For the December quarter, its revenue declined by 19.4% from last year to ₹1,045 crore. Ola had reported revenue of ₹1,644 crore during the June quarter and ₹1,214 crore during the September period.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at a loss of ₹460 crore, from a loss of ₹301 crore in the year-ago quarter.
The Ola Electric Mobility stock is still 32% below its IPO price of ₹76. The stock has declined in three out of the last five trading sessions and in seven out of the last 11 trading sessions.
Ola Electric Mobility shares had made their stock market debut on August 9 last year, post which, they had made a high of ₹157.4, before correcting. The stock had ended 20% higher on its trading debut, having listed exactly at its IPO price.
The stock has lost over 60% in market capitalisation from its peak within a few days of its listing. From the peak market capitalisation of over ₹60,000 crore, Ola Electric now has a market capitalisation of just ₹23,000 crore.
Shares of Ola Electric Mobility are currently trading 1.59% higher at ₹51.72.
