Ola Electric chief executive Bhavish Aggarwal said on Wednesday that the company expects to be Ebitda (earnings before interest, taxes, depreciation, and amortisation) positive in the next quarter.
“Our @OlaElectric EV business will be EBITDA positive next quarter. When we started many thought EVs will never be profitable. Kudos to the Ola Electric team for working hard to make this happen more than a year ahead of analyst estimates,” he said in a post on X.
In addition to the automotive business, the company also operates in the battery cell manufacturing space.
As per the filing, Ola Electric has finished the implementation of its Network Transformation and Opex Reduction Program, due to which it has reduced costs by Rs 90 crores per month.
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