BENGALURU: Ola Electric Mobility reported revenue of Rs 504 crore for the Dec quarter, down 57% year-on-year from Rs 1,172 crore and 33% from Rs 756 crore in the Sept quarter. The company reported a loss of Rs 487 crore, narrower than the Rs 564 crore loss a year earlier but wider than the Rs 418 crore loss in the Sept quarter. Founder and CEO Bhavish Aggarwal told analysts that Ola Electric’s heavy investment phase is complete and the company will now focus on scaling its installed capacity while addressing service execution challenges.
