Absent Ola invoices may take toll on Q4 revenue booking

Ola Electric Mobility Ltd, India's electric two-wheeler market leader, was unable to generate invoices for more than half of the vehicles it claims to have sold in February due to issues with two registration agencies.

- Ayaan Kartik

Ola Electric Mobility Ltd, India's electric two-wheeler market leader, was unable to generate invoices for more than half of the vehicles it claims to have sold in February due to issues with two registration agencies. Issuing invoices is key to concluding the sale of a product and its delivery as per the country's taxation laws, and the non-issuance may impact Ola Electric's revenue booking from these vehicles when it declares its March quarter and fiscal FY25 earnings.

In February, the company said in a communication to the Union roads ministry that it received confirmed orders for 25,207 vehicles in February, which was sharply above the number shown by government registration portal Vahan.