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<keyword id="19956271" type="General" weightage="20" keywordseo="Ola-Electric-Mobility" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric Mobility" meta.hostid="261" meta.entityid="Ola Electric Mobility">Ola Electric Mobility</keyword> on Wednesday reported a higher consolidated loss of Rs 347 crore for the April-June quarter compared to the year-ago period. The company's losses in the April-June period of 2023 were Rs 267 crore, according to an exchange filing. Revenue from operations for the quarter under review was Rs 1,644 crore against Rs 1,243 crore in the same quarter of the previous fiscal, according to the filing. The Bengaluru-based firm said its total expenses during the first quarter grew to Rs 1,849 crore compared with Rs 1,461 crore in the June quarter of FY24. The company made its market debut earlier this month. The company in a statement said its automotive segment (E2W) posted a strong improvement in EBITDA (earnings before interest, tax, depreciation and amortization) margin and is close to EBITDA breakeven. The quarter witnessed the highest-ever deliveries of vehicles by the company at 1,25,198 units as against 70,575 units delivered in the same period last year, <keyword id="4393078" type="General" weightage="20" keywordseo="Ola-Electric" source="Orion">Ola Electric</keyword> Mobility said. The company also said it ramped up deliveries of its mass-market scooter portfolio (S1 X portfolio) during the quarter which helped accelerate the growth, adding that the existing product portfolio also saw strong demand which continued growth momentum throughout the quarter. According to Ola, the increasing scale of operations has benefited the company in the form of lower manufacturing costs and supply chain optimization. These benefits of scale are further amplified by the company's scalable platform-based product development and manufacturing technology that results in high degrees of commonality across its products, it said. The company also announced on Wednesday the integration of its cells in its vehicles by the first quarter of next fiscal. Ola said it will launch its electric motorcycle portfolio across mass and premium segments during its annual flagship event on August 15, 2024. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-pixel-9-pro-and-pixel-9-pro-xl-launched-in-india-starting-at-79999/articleshow/112512198.cms">Pixel 9, Pixel 9 Pro and Pixel 9 Pro XL launched in India starting at ₹79,999</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a>

Ola Electric Mobility losses widen to ₹347 crore in Apr-Jun quarter

<keyword id="4393078" type="General" weightage="20" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> has postponed the sale process of its electric scooter S1 by a week to September 15 as it faced "technical difficulties" in making the website for purchases live for customers on Wednesday. The company had last month launched the <keyword id="11908704" type="General" weightage="20" keywordseo="Ola-S1" source="Orion">Ola S1</keyword> electric scooter in two variants -- S1 and S1 Pro -- at Rs 99,999 and Rs 1,29,999, respectively (ex-showroom including FAME II subsidy and excluding state subsidies). It had announced that the scooter would be available for purchase from September 8 and the actual deliveries would start in October. In a late night statement on Twitter, <keyword id="6354720" type="General" weightage="20" keywordseo="ola" source="Orion">Ola</keyword> Chairman and Group CEO Bhavish Aggarwal said the purchase process has been delayed by a week and would commence from September 15. "We had committed to start purchases today for our Ola S1 scooter. But unfortunately we have had many technical difficulties in making our website for purchases live today. "I want to apologise to all of you, who had to wait for several hours. The website was just not up to our expectations on quality. I know we have disappointed you and I sincerely apologise to each of you for what was clearly a very frustrating experience," he stated. The company has built a completely digital purchase journey, including a fully digital loan process without any paperwork, Aggarwal informed customers. "We wanted to provide this first of its kind digital purchase journey and today we haven't been able to. Getting you the right experience will take us another week. I want to let you know that we will now be starting our purchase on 15th September, 8 AM. "Your reservation and your position in the purchase queue remains unchanged, so if you reserved first, you will still be able to buy it first. Our delivery dates also remain unchanged," he noted. Ola Electric had opened pre-launch bookings of its electric scooters in July for Rs 499 and had received 1 lakh orders in just 24 hours. However, the company has not disclosed how many orders it has received so far. On August 15, the company formally announced its foray into the green mobility space with the launch of its first electric scooter, Ola S1. The scooter comes in 10 colours with in-house developed 8.5 KW motor and 3.97 kWh battery packs. Ola is setting up a manufacturing plant, spread across 500 acres, in Tamil Nadu. The company had stated that it would initially start with 10 lakh annual production capacity and then scale it up to 20 lakh, in line with market demand, in the first phase. When fully completed, Ola Electric had claimed that its plant would have an annual capacity of one crore units, "that is 15 per cent of the world's entire total two-wheeler production". SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/heres-how-to-buy-ola-electric-scooter-s1-and-s1-pro/articleshow/86032630.cms">Ola e-scooters go on sale: Here’s how you can purchase it</a> <a href="https://www.businessinsider.in/business/auto/news/ola-s1-and-s1-pro-electric-scooter-to-go-on-sale-from-september-8-price-finance-options-delivery-date-and-more/articleshow/86005963.cms">Ola S1 and S1 Pro electric scooter to go on sale from September 8: Price, finance options, delivery date and more</a> <a href="https://www.businessinsider.in/business/auto/news/ola-s1-pro-vs-simple-one-new-electric-scooters-price-charging-time-top-speed-and-more/slidelist/85365174.cms">Ola S1 Pro vs Simple One electric scooters — Price, charging time, top speed and more</a>

Ola S1 and S1 Pro electric scooter sale delayed by one week

Mining conglomerate <keyword id="19919721" type="General" weightage="20" keywordseo="Vedanta" source="keywords">Vedanta</keyword> Ltd on Tuesday reported 36.5 per cent rise in consolidated net profit at Rs 3,606 crore for June quarter FY25 due to improved margins and robust cost reduction across all operations. The company had posted a net profit of Rs 2,640 crore in the year-ago period. Income rose to Rs 36,698 crore over Rs 34,279 crore in the year-ago period, according to an exchange filing. Vedanta said in a statement that the proposed demerger of its businesses is on track and it has already filed the demerger scheme with NCLT after getting a nod from secured creditors. The company said that its board has approved a capex investment of USD 270 million for its oil and gas business. "The strategic priority for the Cairn Oil &amp; Gas business is to augment reserves and increase near term volume through infill wells and enhanced oil recovery. In order to deliver this, the Board has approved capex investment (net) of USD 270 million across fields in the Rajasthan block for drilling wells and construction of surface facility for ASP ( Alkaline Surfactant Polymer) injection," the company said in a separate filing. Vedanta Executive Director Arun Misra said that the company has delivered a strong start to the year, with exceptional EBITDA improvement of 47 per cent and PAT improvement by 54 per cent year-over-year on the back of improved margins, and robust cost reduction across all operations. "Our aluminium and zinc divisions continue to outperform industry benchmarks, consistently ranking in the top quartiles and deciles of the global cost curve. These achievements are a direct result of our strategic focus on cost, as reflected in a 20 per cent year-over-year reduction in overall cost," he said. The company's growth projects are well on track and it remains committed to commission the majority of these projects in FY25. "Moving ahead, our focus on operational efficiency, sustained expansion, and ESG excellence will guide our journey. With this dedication, we are confident in our ability to create substantial shareholder value in the year ahead," he added. Last month, the mining conglomerate raised Rs 8,500 crore (over USD 1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share. Company's CFO Ajay Goel said, "The overwhelming response to the Vedanta's... QIP...underscores investors' huge confidence. The proceeds from the QIP will be further instrumental in deleveraging the balance sheet and reduction of finance costs. We have received all the requisite approvals and have filed the demerger scheme with the National Company Law Tribunal (NCLT) taking our demerger a step closer to reality." The company's gross debt stood at Rs 78,016 crore as on June 30, 2024. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

<ul><li>In constant currency terms, <keyword id="13843427" type="General" weightage="20" keywordseo="ltimindtree" source="Orion">LTIMindtree</keyword> posted revenue growth of 8.2% YoY for the June quarter. </li><li>The order inflow continued to increase and reached $1.41 billion in this quarter. </li><li>“Our operational rigor helped us achieve an EBIT of 16.7% and PAT of 13.2%," said Debashis Chatterjee, CEO and MD. </li></ul> Technology consulting and digital solutions company LTIMindtree posted a 4.1% year-on-year rise in net profit to ₹1,152 crore for the first quarter ended June 30. Revenue rose 13.8% to ₹8,702 crore for the period. In constant currency terms, the company’s revenue rose 8.2% YoY for the June quarter. On a quarter-on-quarter basis, however, this revenue was almost flat at 0.1% growth. “Our key verticals BFSI (banking, financial services and insurance), Manufacturing &amp; Resources and Hi-Tech, Media, and Entertainment, which make up 75% of our revenues performed well,” said Debashis Chatterjee, chief executive officer and managing director. “Our strategic programs are bearing fruit and is evident in the upward movement across our client buckets. The order inflow continued to increase and reached $1.41 billion in this quarter,” he added. The company has 723 active clients as of June 30, 2023. During the quarter, $5 million+ clients increased by 18 on a YoY basis, while $10 million+ clients increased by 9 and $50 million+ clients increased by 3. “Our operational rigor helped us achieve an EBIT of 16.7% and PAT of 13.2%," Chatterjee added. EBIT is earnings before interest and taxes, while PAT refers to profit after tax. At the end of the quarter, the company had 82,738 professionals with the trailing 12 month attrition at 17.8%. Among the deals won during the quarter are a deal from one of the largest property &amp; casualty insurance companies in the United States, which has chosen LTIMindtree as a strategic partner for a multi-year application development and maintenance deal. Shares of the company were trading 2.5% lower at ₹5,006 in morning trade on the NSE. Meanwhile, the Nifty50 was up 0.45%.

LTIMindtree Q1 net profit rises 4.1% to ₹1,152 crore, revenue up 14% YoY

<keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> on Sunday responded to the electric scooter fire incident that took place in Pune, saying our investigation has revealed that aftermarket parts used in the scooter led to a short circuit which resulted in the incident. The company also confirmed that the battery of the vehicle is intact and functional. In addition, the company informed "the customer is safe and unharmed". A user had shared the video of the incident on X, mentioning that the model of the scooter was Ola S1, which caught fire, and the incident happened near the parking lot of D.Y Patil College in Pimpri Chinchwad. "Shocking..... Ola S1 Get fired At Parking Near D Y Patil Institute Pimpri Pune," the user wrote. The news was first reported by Pune Mirror. The video shows heavy smoke coming out of a scooter while the fire brigade team uses a water hose to control it. While there have been no casualties reported, the scooter was severely damaged. This is the second such incident involving Ola's electric scooters in Pune. Another Ola S1 Pro scooter caught fire in the Dhanori area of Pune in March 2022. In July this year, an <keyword id="4393078" type="General" weightage="50" keywordseo="ola-electric" source="Orion">Ola electric</keyword> scooter worth Rs 149,000 reportedly caught fire at a residence in Kerala's Thiruvananthapuram district. Meanwhile, a similar incident was reported by another X user on October 20, mentioning a fire incident with Ola S1 Pro. "Hello Everyone, I am Abhijeeth Singh actually I am facing a lot of problems from Ola Electric. And the reason I am saying this is because, on August 24 my Ola S1 pro met with a Fire accident at midnight some 11:30 p.m. - 12:00 a.m. So after some effort, we managed to put off the fire," the user said. He also shared a picture of the extensively damaged vehicle in his post.

Ola electric scooter catches fire in Pune, company responds

<keyword id="12085484" type="General" weightage="20" keywordseo="ola-futurefactory" source="Orion">Ola Futurefactory</keyword> is now producing almost 1,000 units of its <a href="https://www.businessinsider.in/business/auto/news/ola-electric-scooter-test-rides-begin-in-delhi-bengaluru-ahmedabad-and-kolkata/articleshow/87625927.cms" data-type="tilCustomLink">S1 and S1 Pro electric scooters</a> per day, Bhavish Agarwal, Founder and CEO, Ola Cabs, said on Thursday. In a tweet, Aggarwal shared a picture of the<a href="https://www.businessinsider.in/business/auto/news/top-electric-scooters-and-electric-bikes-in-india-in-january/articleshow/73658940.cms" data-type="tilCustomLink"> scooters</a> with the caption: "Production just for today so far!" "Futurefactory now producing almost 1000 scooters a day. Opening up purchase window for remaining customers soon," he wrote in the tweet. In December end, <keyword id="4393078" type="General" weightage="20" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> had revealed that it has dispatched all units of its S1 and S1 Pro electric scooters to its customers. The company also organised special events for the first 100 customers in Bengaluru and Chennai for the deliveries of <keyword id="11908704" type="General" weightage="20" keywordseo="ola-s1" source="Orion">Ola S1</keyword> and S1 Pro e-scooters. Recently, some customers reported problems related to mechanical issues, build quality, as well as the range offered on a full charge. The company later said that all problems with the scooters were fixed.

You Searched For "Ola Electric q1 result" and got 6 results

Ola Electric Mobility losses widen to ₹347 crore in Apr-Jun quarter

PTI

Ola S1 and S1 Pro electric scooter sale delayed by one week

PTI

Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

PTI

LTIMindtree Q1 net profit rises 4.1% to ₹1,152 crore, revenue up 14% YoY

BI India Bureau

Ola electric scooter catches fire in Pune, company responds

IANS

Ola Futurefactory producing almost 1,000 units of S1, S1 Pro e-scooters a day: CEO

IANS

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