India's top electric two-wheeler maker Ola Electric reported a wider quarterly loss on Friday, hurt by heavy discounts it offered to fend off rising competition and as it spent on improving the quality of service at its workshops.

EV maker says despite strong performance fuelled by festival sales, the overall quarter was weak due to "high competitive intensity and service challenges"

Ola Electrics stock fell 4.9% as Q3FY25 losses widened to ₹564 crore due to declining revenue and rising costs. Sales volumes dropped, and EBITDA margins weakened, despite market leadership. The company aims for profitability through cost optimization and new product launches.

India's top electric two-wheeler maker Ola Electric reported a wider quarterly loss on Friday, hurt by heavy discounts it offered to fend off rising competition.

The stock traded lower than the 5-day, 10-, 20-, 30-, 50-day and 100-day simple moving averages (SMAs). The stock's 14-day relative strength index (RSI) came at 50.37. A level below 30 is defined as oversold while a value above 70 is considered overbought.

EV maker Ola Electric reported a loss of Rs 562 crore in Q3 FY25 as it struggles to attain profitability amid rising competition.

Revenue for the December quarter declined by 19.4% from last year to ₹1,045 crore. The company had offered multiple festive discounts during the quarter. Ola Electric had reported revenue of ₹1,644 crore during the June quarter and ₹1,

Results: The revenue declined 19% YoY to Rs 1,045 crore from Rs 1,296 crore. Despite reducing expenses to Rs 1,505 crore from Rs 1,593 crore in Q2FY25 and Rs 1,597 crore in Q3FY24, the company reported higher losses on both YoY and QoQ bases.

Ola Electric's net loss widened to Rs 564 crore in Q3 FY25 due to increased competition and one-off costs for service issues. Revenue declined to Rs 1,045 crore.