DSIJ Mindshare

The company’s shares have delivered a multibagger return of over 980 per cent in the past 3 years.

In the Quarterly Results of Q4FY24, revenue increased by 8.60 per cent from Rs 605 crore in March 2023 to Rs 657 crore in March 2024. Over the year, revenue grew by 8.10 per cent, from Rs 2,346 crore to Rs 2,536 crore. Net profit, however, showed a turnaround on a quarterly basis, moving from a loss of Rs 503 crore in March 2023 quarter to a positive of Rs 88 crore in March 2024 quarter. On a yearly basis, the net position improved from a loss of Rs 70 crore to a profit of Rs 595 crore.

Recently, the company has been ranked as L-1 for the "ARMO of Electrical and Mechanical Installations 2024-25" contract at Visakhapatnam Airport.

Speaking at the event, Bhavish Aggarwal, Founder and CMD, Ola Electric, said, “Today, 2/3rd of India’s 2W market consists of motorcycles, and with Ola’s entry into this segment, EV penetration is poised to further accelerate in the Indian 2W segment. We have already been successful in accelerating the EV adoption in the scooter segment, and with our futuristic portfolio of products, we are now focused on supercharging the EV penetration through our motorcycles. Coupled with the integration of our cells in our vehicles starting early next year, we are determined to chart a new course for mass EV adoption across India.”