Ola Electric reported a significant decline in revenue and doubled losses for the quarter ended March, while Ather Energy showed improvement in financials with increased operating revenue and narrowed losses.
Ola Electric attributed its financial issues to a registration process problem, which has been resolved in the current quarter.
Ather Energy reported a 29% increase in operating revenue and a 17% reduction in losses for the same period.
While Ola Electric led in units sold for Q4, Ather Energy is focusing on developing its own line of electric motorcycles funded by a portion of its IPO proceeds.