Ola Electric Shares Slump 2.6% To Hit Fresh All-Time Low

SUMMARY

Ola Electric has experienced significant volatility in recent times with a negative return of 29.27% in the year-to-date

Although the company has been diversifying its offerings with new product launches and segueing into the EV bike segment, its consolidated net loss widened 50% YoY to INR 564 Cr in Q3 FY25

While Ola Electric was behind TVS and Bajaj in terms of escooter sales in December 2024, it reclaimed its top spot in India’s electric two-wheeler market in January

Extending its losing streak for the eighth consecutive session, shares of EV major Ola Electric slumped as much as 2.6% to hit a fresh all-time low of INR 59.25 on the BSE today (February 17).

This also marks a fresh 52-Week figure for the stock which is a 62.38% downsize from the 52-Week high of INR 157.53 reported on August 20, 2024.

However, the stock pared some losses to trade 0.2% lower at INR 60.68 at 2:45 PM.

At this point, the company’s market capitalisation stood at INR 26,773.74 with as many as 31 Cr shares trading hands by then.

Ola Electric has experienced significant volatility in recent times with a negative return of 29.27% in the year-to-date at the current market price.

Although the company has been diversifying its offerings with new product launches and segueing into the EV bike segment, its consolidated net loss widened 50% to INR 564 Cr in the third quarter of the fiscal year 2024-25 (Q3 FY25) from INR 376 Cr in the year-ago quarter.

The Q3 result, announced on February 7, also saw its revenue decline 19% to INR 1,045 Cr during the quarter under review from INR 1,296 Cr in Q3 FY24. Sequentially, it fell 14% from INR 1,214 Cr.

Ola Electric rolled out its flagship Gen 3 S1 Pro+ scooter earlier this month, which is powered by its in-house 4680 Bharat Cell.

Amid the rising competition in the electric two-wheeler market, Ola Electric has been losing some of its market share to rivals TVS Motor, Bajaj Auto and IPO-bound Ather Energy since July last year.

While Ola Electric was behind TVS and Bajaj in terms of escooter sales in December 2024, it reclaimed its top spot in India’s electric two-wheeler market in January. As per Vahan data, Ola Electric held a market share of 25% in the two-wheeler EV space in January.