Ola Electric shares opens 9% down after EV-maker reports widening Q4 losses and revenue dip
The Bhavish Aggarwal-led company’s share price has fallen by about 39% year-to-date as of Thursday's close., Its market cap has fallen to Rs 22,349.68 crore from Rs 61,455.6 crore at the time of listing in August last year.
Ola Electric's shares opened 9% down on Friday at Rs 48.36 apiece on BSE a day after the EV-maker reported a 2X widening in quarterly losses and a 62% fall in revenue.
However, the company pared losses. Its shares were trading at Rs 50.35 apiece as of 10:58 AM on BSE.
Ola Electric’s market cap has fallen to Rs 22,349.68 crore from Rs 61,455.6 crore at the time of listing in August last year. The company’s share price has fallen by about 39% year-to-date as of Thursday's close.
The Bhavish Aggarwal-led company on Thursday reported a quarterly loss of Rs 870 crore in Q4 FY25 compared to Rs 416 crore in the year-ago period.
For the first time, the company also reported lower revenues than its rival Ather Energy, which listed on the public bourses earlier this month. Ola Electric's revenue fell by 62% to Rs 611 crore compared to Rs 1,598 crore in FY24.
Ola Electric has been losing market share to legacy players TVS Motor and Bajaj Auto. As of May 29, the company sold 16,703 units of its electric two-wheeler. Bajaj Auto and TVS Motors sold 18,840 and 21,390 units, respectively.
However, in a shareholder’s letter, the company said it is forecasting revenue of between Rs 800 crore and Rs 850 crore in Q1 FY26 and a sale of 65,000 units as it hopes to cash in on its entry into the motorcycle market with its Roadster series, which began deliveries late last week.
During the quarter, the company also took a one-time warranty cost of Rs 250 crore to provision for Gen 1 and Gen 2 scooters sold till date. This is expected to help the company reduce its overall warranty expenses in the coming quarters.
Edited by Swetha Kannan