Ola Electric will never show a profit. Here’s why.

A simple exercise involving its publicly shared numbers shows that the EV maker will probably never break even, making the case for investment in its ongoing IPO all the more baffling.

Two days in, the question of whether Ola Electric Mobility should have been allowed to tap the public markets is now moot. The initial public offering is set to close today.

What isn’t is when—if at all—it will turn profitable. This question, more than any other, is what continues to hang in the air.

Now, there are many reasons why Ola Electric is a problematic company and investment, and we have documented these over the past two years. Besides serious operational and leadership issues, its financials are in a deep funk.

Sample this: in 2023-24, a stellar year in terms …

Author

Ujval Nanavati

Ujval leads our Business vertical at The Morning Context. In a corporate career spanning 14 years, he has worked across startups, consulting firms, multinational corporations and large Indian companies, including India Infoline, ICICI, KPMG, Tata Steel and Jubilant Pharma. Ujval has been a freelance writer and trainer for eight years, with bylines in Forbes India and The Economic Times.

Editor, Business

ujval@mailtmc.com

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