New Delhi, Aug. 10 -- Ola Electric Mobility Ltd's auditor has flagged its decision to reverse a Rs.57 crore penalty provision for missed battery scheme deadlines before a formal waiver, a move that helped the electric two-wheeler maker shrink its June quarter losses.

The company, which was selected for the production-linked incentive (PLI) scheme four years ago, was mandated to invest Rs.225 crore per gigawatt hour (GWh) capacity awarded within two years, a timeline that it missed. Ola sought more time to comply and included a penalty provision after a government notice in March 2025. However, it reversed the provision in the June quarter before receiving a formal waiver, prompting BSR & Co., the Indian affiliate of KPMG, to issue a qual...