Electric two-wheeler producer Ola Electric recorded a 26% decline in its working income to Rs 1, 214 crores in Q2 FY25 when compared to Rs 1,644 crore in Q1 FY25.

However, the firm enrolled 39% year-on-year increment in income from Rs 873 crore in Q2 FY24. In a shareholder's letter, the company credited the year-on-year development to a 73.6% rise in conveyances, which come to 98,619 units amid Q2 FY25.

Revenue from its automotive portion stood at Rs 1,215 crore, whereas the cell portion contributed Rs 1 crore. The firm moreover enrolled Rs 100 crore from other salary which brought it add up to pay to Rs 1,314 crore in Q2 FY25.

Cost of materials was the biggest burn for the Bhavish Aggarwal-led firm which hopped 46.6% to Rs 1,072 crore from Rs 731 crore in Q2 FY24. On a quarterly premise, the taken a toll declined by 18% from Rs 1,311 crore in Q1 FY25.

During Q2 FY25, worker benefits costs stood at Rs 139 crore whereas other costs, counting operational and regulatory costs, contributed Rs 465 crore. The firms add up to costs for Q2 FY25 stood at Rs 1,593 crore, a 21.8% surge from Rs 1,308 crore in Q2 FY24. When compared on a consecutive premise, the add up to costs diminished by 13.8% from Rs 1,849 crore in Q1 FY25.

Overall, the company posted a net misfortune of Rs 495 crore, a 42.65% increment from Rs 347 crore in the past quarter (Q1 FY25). The misfortunes were down by 5.5% year-on-year from Rs 524 crore in Q2 FY24.

Among the venture supported companies, Ola Electric’s closest competitor Ather posted Rs 339 crore of income with a net misfortune of Rs 183 crore in Q1 FY25. Its Q2 comes about are however to be declared. The Tarun Mehta-led firm too recorded its draft IPO papers in September.

After continuous decreases in showcase share, Ola Electric recaptured footing in October, with deals expanding amid the merry period. The company sold 41,605 units in October, which made a difference its showcase share climb to 30% in the final month from 27% in September. Be that as it may, this figure remains lower than its prior showcase offers, which were 32% in Eminent, 39% in July, and 49% in June.

At the closure of stock trade on November 8, Ola Electric’s offers were exchanging at Rs 72.72, about 54% underneath its peak of Rs 157.53 in mid-August.

source: entrackr.