Ola Electric Mobility Limited — Board Meeting, 29-05-2025: Outcome of Board Meeting

Ola Electric has announced a board meeting on May 29, 2025, approving the financial results for the year. The group posted a consolidated net loss of INR 2,276 crore, wider than last year’s INR 1,584 crore, due to operating losses and softer sales. Revenue reached INR 5,010 crore, while operating cash outflow increased to INR 2,391 crore. The company raised INR 200 crore via non-convertible debentures and completed its IPO, raising INR 5,275 crore, which remains mostly parked in fixed deposits. The board approved raising up to INR 1,700 crore more in debt to fuel growth. Management stays confident on the company’s outlook despite ongoing cash burn.