Simple Energy reports widening losses as expenses rise in FY24

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The EV-maker also reported a revenue from operations of Rs 6.57 crore in FY24 as opposed to no revenue from operations being recognised in FY23.

Ola Electric has undertaken a restructuring process that will affect around 450-500 employees over the next month to help the company reach profitability.

Currently, the company competes with listed entity Ola Electric and IPO-bound Ather Energy, which are yet to become profitable.

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Article Details

Author / Journalist: Sai Keerthi

Category: StartupsEconomyBusiness

Markets: India

Topics: Expenses Company Energy Policy Revenue Help Crore Reported Year Privacy Simple

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-22 @ 09:46:16 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 253 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © YourStory

News ID: 23762839

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Main Topics: StartupsEconomyBusiness

Official Website: yourstory.com

Update Frequency: 31 posts per day

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