Ola Electric, India's top e-scooter maker by market share, reported a narrower second-quarter loss on Friday helped by a jump in sales, and said the recent surge in service requests was largely for "minor issues.

In a shareholder letter, Ola Electric said that it delivered 98,619 scooters in the quarter, up 74% from the previous year.

Ola Electric reported a narrowed net loss of Rs 495 crore for Q2 FY24 due to increased sales. Revenue rose to Rs 1,214 crore. The firm plans to expand its store network to 2,000 outlets by March 2025.

Ola Electric, India's top e-scooter maker by market share, reported a narrower second-quarter loss on Friday, helped by a jump in sales. The Bengaluru-based company said its consolidated loss narrowed to 4.

The EV maker reported a net loss of Rs 495 crore in Q2 FY25 compared to Rs 524 crore in the year-ago period, days after its share price dropped below its debut price for the first time after listing.

The Bengaluru-based company said its consolidated loss narrowed to Rs 495 crore ($58.7 million) in the July-September quarter from Rs 524 crore a year earlier

Ola Electric Mobility's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at a loss of ₹379 crore, which is narrower than the loss of ₹435 crore that it had reported in the year-ago quarter.

Ola Electric's fiscal second quarter narrowed, helped by a jump in sales and lower raw material costs. The Bengaluru-based company said its consolidated loss narrowed to Rs 495 crore in the July-September quarter from Rs 524 crore a year earlier.