Ola Electric narrows quarterly loss as Manappuram Finance profit surges 77 per cent
Ola Electric reported a reduced loss of Rs 3.62 billion while Manappuram Finance saw standalone net profit rise to Rs 665 crore.
Ola Electric reported a consolidated loss of Rs 3.62 billion for the quarter ended September 30, 2026, according to The Hindu. This is a reduction from the Rs 4.18 billion loss recorded during the same period a year ago.
The electric-vehicle maker attributed the narrowed loss to restructuring and cost-control measures, including workforce restructuring and reduced warranty expenses. These efforts led to a 28.4 per cent drop in second-quarter expenses to Rs 6.39 billion. However, revenue fell approximately 39 per cent to Rs 4.21 billion, as unit sales dropped to 41,651 from 51,775 a year ago.
Gold loan lender Manappuram Finance reported a 77 per cent year-on-year surge in standalone net profit, reaching Rs 665 crore for the second quarter. This compares to Rs 376 crore in the previous year, as reported by The Economic Times.
Manappuram's pre-provision operating profit rose 73 per cent to Rs 1,112 crore, while net operating income grew 43 per cent to Rs 1,653 crore. Despite the profit growth, the company's gross non-performing assets ratio rose to 1.8 per cent from 1.6 per cent in the previous quarter.
In other results, Indel Money reported a 222 per cent year-on-year surge in second-quarter net profit to Rs 80 crore. The non-bank lender plans to go public in the next three years.
