MAM
Chevrolet India gets philanthropic
MUMBAI: To reach out to the less fortunate children in India, Chevrolet India as a part of the corporate social responsibility (CSR) mission of “Driving a Better Tomorrow” along with One World Futbol Project recently announced the donation and delivery of 20,000 footballs to marginalised and underprivileged children in India, especially those who cannot afford and maintain a football.
The unique initiative kicked off with the donation of 91 footballs to Sankalp School in Gurgaon — a school for underprivileged children, run by Gurgaon-based NGO Sankalp Welfare Society.
“Many of these children are growing up in less privileged circumstances where sometimes a game of football could lighten up their lives by teaching them the true meaning of team spirit and fair play,” said, GM India president and MD Lowell Paddock.
“The joy that comes from playing football can help lift their spirits and replace despair with hope. Chevrolet’s founding sponsorship of One World Futbol Project is intended to spark a worldwide movement to give children a pathway out of poverty and despair with the benefits that fitness, sport and teamwork can bring – something we call the ‘Power of Play’,” added Paddock.
“It’s our pleasure to work with Chevrolet India to support the donation and delivery of One World Futbols — first to Sankalp School and then throughout the rest of India with Slum Soccer,” said One World Futbol Project CEO Arnold Ambiel. “The spirit of this joint collaboration will allow us to bring the power of play to more children throughout India than any of us could have done alone. And seeing the joy on the children’s faces on Children’s Day makes all these efforts worthwhile.”
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Ola Electric revenue falls, losses continue in December quarter
Company cuts expenses and seeks fresh funds as sales slow and regulators raise questions.
MUMBAI: It seems Ola Electric is currently navigating a bit of a patchy connection, and we are not just talking about a dropped Bluetooth sync on the dashboard. The electric vehicle (EV) giant’s latest financial results for the quarter ended 31 December 2025 have hit the wires, and the numbers are looking more short circuit than supercharged.
The company’s consolidated revenue from operations for the December quarter came in at Rs 470 crore, a significant deceleration from the Rs 690 crore recorded in the preceding quarter. The comparison to the same period last year is even more stark, when revenue stood at a much loftier Rs 1,045 crore. Despite a small recharge of Rs 18 crore from previously unclaimed government subsidies under the EMP5-2024 and PM E-Drive schemes, the overall income trajectory has clearly lost its torque.
Total income for the quarter stood at Rs 504 crore, while the bottom line remained firmly in the red, with a quarterly loss of Rs 487 crore. For the nine-month period ending December 2025, the total accumulated loss has now ballooned to a staggering Rs 1,333 crore.
In an effort to keep the wheels from falling off, Ola has been aggressively downshifting its expenditure. Total expenses for the quarter were slashed to Rs 741 crore, a massive drop from the Rs 1,505 crore spent during the same quarter the previous year.
This belt-tightening suggests a pivot toward leaner operations as the company attempts to find a sustainable cruising speed. However, even with these deep cuts, the going concern tag is being sustained largely by Rs 1,503 crore in remaining IPO proceeds, along with a fresh shareholder approval to raise another Rs 1,500 crore through equity or convertible securities.
The National Stock Exchange (NSE) and SEBI have also been examining the matter closely, questioning why Ola’s press claims did not align with official Vahan portal data. The company had earlier announced 25,000 units sold in February 2025, but has now clarified to regulators that this figure referred to vehicle bookings rather than final registrations. Under Ola’s accounting policy, a sale is recognised only once the scooter is delivered and registered. Management maintains that this clarification will not have a material impact on the financials, although it has certainly raised eyebrows in the market.
The group’s cash flow situation remains under pressure. For the nine months ended 31 December 2025, Ola reported a negative cash flow from operations of Rs 866 crore, attributing it primarily to lower-than-expected growth in sales volume.
Adding to the complexity are the new Labour Codes. The company has already factored in an additional Rs 5.06 crore in liabilities due to changes in wage definitions affecting gratuity. Meanwhile, the Cell segment, which represents Ola’s major bet on battery manufacturing, is still at an early stage. It contributed just Rs 9 crore to revenue, compared to Rs 407 crore from the automotive segment.
As Ola attempts to navigate this financial fog, the message is clear: the road to an electric future is paved with expensive ambitions. For now, the company is applying the brakes to avoid a deeper skid.
