Bhavish Aggarwal led Ola Electric Mobility, known for its electric vehicle market, has released its financial results for the first quarter of FY25 on Wednesday (August 14), the company announced through an exchange filing
Recently, the company made headlines with its stock market. The company reported a consolidated net loss of Rs 347 crore for the quarter ending June 30, 2024, an increase from the Rs 267 crore loss reported in the same quarter last year.
The total income of the company posted Rs 1,718 crore in Q1FY25 compared to Rs 1,279 crore in the same quarter previous year.
The total expenses of the company stood at Rs 1,849 crore compared to Rs 1,461 crore. The loss before finance costs, depriciation, authorisation and tax expense for the quarter stood at a loss of Rs 131 crore.
On the standalone basis, the company reported a total income of Rs 28 crore in Q1FY25. The total expense for the quarter stood at Rs 14 crore compared to Rs 84 crore the previous year same quarter.
The company reported a net loss of Rs 6 crore in this quarter in comparison to a profit of Rs 8 crore last year.
Ola Electric Mobility IPO
In addition to this, the company in the regulatory filings added that it has completed an initial public offering (IPO) of 723757627 equity shares with a face value of Rs 10 each at an issue price of Rs 76 per shares which includes 797101 equity shares with a face value of Rs 10 each at an issue price of Rs 69 per shares, comprising fresh issue of 723757627 shares and an offer for sale of 84941997 shares.
Ola Electric Mobility shares
The shares of the company on Wednesday at 3:30 pm IST closed at Rs 110.99 apiece, up by 2.61 per cent.
