Ola Electric Mobility's net loss widened to INR 564 crore for the quarter ended Dec 31, from INR 376 crore in the same period a year ago. The company's revenue from operations stood at INR 1,045 crore, declining 19% from INR 1,296 crore in the corresponding quarter last year.

Founder MD Bhavish Aggarwal told analysts that the company's warranty and service related costs were accounted as a one time exceptional cost in the latest quarter and that the same is anticipated in Q4 as well.

"This is largely linked to the service backlogs we had. It is not all because of warranty, part of it is also no-questions-asked-goodwill that we did, given that we had a bad issue on service," he said. The electric vehicle (EV) manufacturer's total expenses for the quarter were INR 1,505 crore.

Despite the losses, the company maintained its leadership position in the electric two-wheeler segment with a 25.5% market share in the third quarter.