URL copied to clipboard

Trending News

EV stock falls 2% despite 39% revenue growth in Q2 – read more to know about the stock!

Ola Electric Q2 Results showed a 39% revenue increase to ₹1,214 crore, but missed forecasts due to warranty provisions. Net loss decreased to ₹495 crore, but shares fell 2%.
EV stock falls 2% despite 39% revenue growth in Q2 - read more to know about the stock!

Share Price movement of Ola Electric’s:

Over the past week, Ola Electric’s stock price showed a slight decline of about 0.29%, trading at ₹119.93. The price fluctuated within a narrow range from ₹119.22 to ₹122.97 during the trading session. This recent movement reflects a broader trend seen over the past year, where the stock has oscillated significantly between a low of ₹76.00 and a high of ₹157.40, indicating notable volatility in the stock’s performance in the market.

Alice Blue Image

Ola Electric Q2 Results:

Ola Electric Q2 Results show revenue of ₹1,214 crore, up 39% year-over-year but down from ₹1,644 crore last quarter. Despite revenue growth, shares dipped 2% as the earnings missed forecasts due to warranty provisions and operational challenges.

The company’s net loss improved, decreasing to ₹495 crore from ₹524 crore the previous year, reflecting better cost management and operational efficiency. Yet, the results did not meet analyst expectations, impacting the stock’s performance.

Also Read: What Does Your Portfolio Says About You? Your Guide to Building a Winning Portfolio

Stock performance of Ola Stocks for 1 week:

Over the past week, Ola Electric’s stock performance was down significantly, with a 10.0% decline. This drop reflects short-term market reactions and broader operational challenges faced by the company during the period.

Shareholding pattern of Ola Electric Stocks:

All values in %Sep-24
Promoters36.78
FII4.18
DII5.16
Retail & others53.89
Alice Blue Image

About Ola Electric Company:

Ola Electric, a branch of Ola Cabs, is a leader in the electric vehicle industry, focusing on the production and deployment of electric scooters. The company is recognized for its innovative approaches in EV technology and smart charging solutions, aiming to revolutionise urban mobility and enhance sustainability through increased adoption of electric vehicles.

Loading
Submit the form, and get to know how you scored!!!
Read More News