Ola Electric shares slide 6% in 2 days after company’s Q3 loss widens YoY
Ola Electric Mobility fell as much as 3.44% on Monday to a day’s low of Rs 67.61 on the BSE after reporting a widening of its losses YoY to Rs 564 crore for the third quarter ended December 2024.
With today’s fall, the stock has tumbled by 6% in the last 2 trading sessions.
The company posted a net loss of Rs 564 crore for the third quarter of fiscal year 2025, compared with Rs 376 crore in the year-ago period. Meanwhile, the company’s revenue from operations for the third quarter fell 19% year-on-year to Rs 1,045 crore from Rs 1,296 crore in Q3FY24, reflecting weaker demand and pricing pressures.
On a sequential basis, the company's net loss expanded from Rs 495 crore in Q2FY25, while revenue declined from Rs 1,214 crore in the previous quarter. Despite cost-cutting efforts, which brought expenses down to Rs 1,505 crore from Rs 1,593 crore in the second quarter, the company's losses continued to deepen.
Ola Electric delivered 84,029 units in the December quarter, marking a decline from 86,775 units in Q3FY24 and 98,619 units in Q2FY25. Of the total deliveries, 29,283 units were from the premium segment, while 54,746 units came from the mass segment, according to the company.
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