AI is reimagining service companies; Ola Electric narrows loss in Q1
Northbound Advisors is building a proprietary AI tool with a partner, trained on eight years of work across diligences, CFO advisory, legal, tax and risk engagements.
Ola Electric, an electric vehicle manufacturer, has managed to reduce its loss in the first quarter of fiscal year 2027. The Bengaluru-based company's consolidated loss narrowed to Rs 336 crore from Rs 428 crore in the previous year. However, its revenue from operations declined significantly by 45% to Rs 455 crore. Despite the loss reduction, Ola Electric registered a higher EBITDA loss of Rs 165 crore as compared to Rs 237 crore the year before.
The growth in electric vehicle sales in India has been remarkable, with overall sales hitting an all-time high. As per a recent report, nearly one in eight vehicles retailed in India are now electric. July 2025 saw a record-breaking month for electric vehicle sales, with 3,27,901 units sold, a 66% increase compared to the same month in the previous year.
AI has been a significant factor in Ola Electric's recent turnaround. The company has embedded AI across various aspects of its operations, including sales, registration, fulfilment, payments, reconciliation, and warranty claims. Additionally, AI is being used in cell research and development.
Former Tally Solutions CFO Sathya Pramod, who now heads Northbound Advisors, believes that AI-native services firms are set to reshape the way investors place their bets. He is preparing a larger fundraise to acquire smaller firms and provide them with AI services.
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