Ola Electric Q1 loss narrows; Swiggy makes amends
Ola Electric posted an improved June-quarter performance as deliveries picked up. This and more in today's ETtech Top 5.
Ola Electric's Q1 net loss narrowed to Rs 336 crore, down from Rs 428 crore a year earlier, as deliveries almost doubled compared to the previous quarter. Revenue fell 45% year-on-year to Rs 455 crore, while market share increased to 8.4% from 5.1% in the previous quarter. Ola Electric CEO Bhavish Aggarwal attributed the turnaround to resetting the operating model, streamlining the organization, tightening execution, and optimizing the cost structure.
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