Ola Electric's Employee Costs Surge, Net Loss Exceeds Revenue in December Quarter

• Ola Electric's employee costs jumped 67% to ₹92 crore in the December quarter, making up 20% of Q3 revenue.
• The company reported a net loss of ₹487 crore against a revenue of ₹470 crore, missing analyst estimates.
• Management attributed the rise in overhead costs to employee exits, with benefits of cost actions expected later.
• Ola Electric plans to increase cell manufacturing capacity at its gigafactory to 6 GWh by March 2026.
• Despite a 34.3% gross margin, the SoftBank-backed firm remains unprofitable, with its stock down nearly 80% from its peak.