New Delhi: Ola Electric Mobility Ltd’s revenue from operations crashed 41.5% sequentially to ₹611 crore in the January-March quarter, falling behind its smaller rival Ather Energy Ltd for the first time since the Bhavish Aggarwal-led startup sparked off the electric vehicle wave in the country eight years ago.Also Read | Ola Electric Q4 results: 5 key factors to watch in 29 May earnings announcementOla Electric’s other income totaled ₹117 crore in January-March, which helped the company end with ₹728 crore revenue in the final quarter of FY25. Ather, which went public earlier this year, had ₹11.7 crore in other income and ₹676.1 crore in revenue from operations in the quarter ended March 2025.However, Ola’s founder and chief executive Bhavish Aggarwal attributed the decline in revenue to two “one-time” causes—first, an issue with Ola Electric’s buyer registration and delivery process, and secondly, an allocation of ₹250 crore to cater to warranty and repair claims made on the firm’s early generation electric two-wheelers.Also Read | What went wrong for Ola Electric after its $4 billion IPO?Net loss widened to ₹2,276 crore for FY25, driven by slow realization of revenue, long wait periods for product deliveries and warranty costs.Revenue for FY25 dropped 9.9% to ₹4,514 crore, led largely by Ola Electric’s March quarter revenue dropping by a whopping 41.5%.“Q4 (of FY25) has been a tough quarter due to lower revenue and a one-time warranty provisioning, but I want to assure everyone that the company’s fundamentals remain focused on our efforts to achieve vertical integration across the system. We’ve already started monetizing our in-house software platform, and while we are one or two quarters behind on our plans to integrate Ola’s own battery cell into our products, they are well on track—we are currently coming close to achieving 80% yield optimization in our commercial EV cells. We’ve also brought down the turnaround time at service centres to an average of 1.1 days, which is industry-leading,” Aggarwal said, in a bid to pacify investors and analysts after grossly missing street expectations.Also Read | Ola’s battery cell ambition has run into a bumpThe company ended FY25 with a net loss of ₹2,276 crore—up 43% from last year. Net loss increased 54% in the March quarter to ₹870, which Aggarwal attributed to the above factors. The figures, however, come off the back of higher annual two-wheeler sales than FY24—Ola Electric sold nearly 30,000 more scooters last fiscal.A Bloomberg poll of three analysts projected FY25 revenue of ₹4,760 crore and net loss of ₹1,880 crore for Ola Electric. The company delivered below expectations on both counts.“The one-time factors led revenue to be what it was for last year and the last quarter. We have now shifted our registration process in-house, which has significantly reduced the time between accepting registrations and selling and invoicing in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. 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For the first time, Ola Electric’s revenue from operations has dropped below that of its smaller competitor Ather.
