Indian EV maker Ola Electric's Q1 hurt by subsidy cuts
BENGALURU - India's top e-scooter maker Ola Electric reported a bigger quarterly loss on Wednesday, hurt by subsidy cuts and a surge in depreciation costs, but said it was inching closer to breaking even in a key profit metric.
Ola Electric's loss increased to 3.47 billion rupees in the April-June quarter from 2.67 billion rupees in the year-ago quarter. However, before accounting for depreciation as well as amortisation, interest and taxes, Ola Electric's profit margin was negative 1.97% in the auto business, which accounts for 99% of its revenue.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
Indian e-scooter maker Ola Electric's $734 mln IPO fully subscribedIndian e-scooter maker Ola Electric's $734 mln IPO fully subscribed
مزید پڑھ »
India's Ola Electric to launch IPO next week, valuation seen at around $4.4 blnIndia's Ola Electric to launch IPO next week, valuation seen at around $4.4 bln
مزید پڑھ »
ZF to slash Jobs amid electric car industry strugglesThe ZF job cuts highlight the ongoing struggles in the electric car industry, reflecting broader market challenges and employment...
مزید پڑھ »
Karachi Gets New EV Bus Route: Numaish to Bahria Town EV-4A new eco-friendly electric bus route, EV-4, has been officially launched, connecting Bahria Town to Numaish Chowrangi. The inauguratio
مزید پڑھ »
GiGi Mini EV Easy Installment Plans for July 2024Following the trend of popular two-wheelers, the GiGi Mini EV is a compact electric vehicle now available with a 12-month installment plan.
مزید پڑھ »
Mohammed Shami reacts to marriage rumors with Sania MirzaIndian fast bowler Mohammed Shami has lately addressed marriage speculations regarding himself and former Indian tennis player San...
مزید پڑھ »