Ola Electric Shares Slide 4% After Q3 Results

Electric vehicle maker Ola Electric’s shares fell nearly 4% to INR 67.43 apiece during the intraday trading session on the BSE today (February 10).

Shares were last down over 3% at INR 67.80 apiece, as of 12:04 PM, on the BSE, while its market capitalisation currently stands at INR 29,905.43 Cr ($3.4 Bn).

The stock closed at INR 70.02 per share on the BSE, on Friday (February 7).

Last week, the Bhavish Aggarwal-led EV company saw its consolidated net loss widened by 50% to INR 564 Cr in Q3 FY25 from INR 376 Cr in the year-ago quarter, while operating revenue declined 19% to INR 1,045 Cr during the quarter under review from INR 1,296 Cr in Q3 FY24.

Ola Electric attributed the weak Q3 performance to high competitive intensity and service challenges.

This dragged the stock on Friday to hit the day’s lowest of INR 69.69.

To note, Ola Electric stock hit its lowest ever of INR 64.68 per share on the BSE, on January 28.

The company, however, reclaimed the top slot in India’s electric two-wheeler (E2W) market in terms of sales recorded in January 2025. Based on the Vahan data, Ola Electric saw registrations of its electric two-wheelers zoom 64% to 22,656 units in January from 13,794 units in the previous month, driving its market share to 25% from 19%.

Furthermore, the recently listed EV startup also officially launched the production-ready Roadster X in the past week, with a starting price of INR 74,999 (ex-showroom), about five months after unveiling this EV bike.

Ola Electric made a stock market debut with a flat listing on August 9, where its shares on the BSE listed at INR 75.99 apiece as against its IPO issue price of INR 76. Meanwhile, on the NSE, the stock opened flat at INR 76 per share.

Since its public listing, the company’s stock has lost more than 23%, as of its last close.