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Ola Electric Shares Tumble Amid Q1 Earnings Dip
10 Aug
Summary
- Ola Electric shares plunged over 6% in early trade.
- First-quarter net loss narrowed to Rs 336 crore.
- Revenue from operations fell 45% to Rs 455 crore.
Ola Electric Mobility's share price saw a sharp decline of over 6% during early trading on Monday. This market reaction followed the company's announcement of its first-quarter financial results for the fiscal period ending June 2026.
The company reported a consolidated net loss of Rs 336 crore for Q1 FY27. This figure represents an improvement compared to the Rs 428 crore loss recorded in the same quarter of the previous year and a decrease from the Rs 500 crore loss in the March quarter.
However, Ola Electric's revenue from operations during the first quarter of FY27 experienced a significant year-on-year drop of 45%. Revenue stood at Rs 455 crore, down from Rs 828 crore reported in the corresponding quarter of the prior year. As of 9:25 AM, the shares were trading 3.38% lower on the BSE.
