Ola Electric Faces Investors' Ire After Q4 Disappointment

The company lost nearly ₹1,000 crore in market value after investors rushed to sell shares; stock fell 4.2% to ₹50.96

- Ayaan Kartik

Ola Electric's investors' rush to sell their stake in the company led to a nearly ₹1,000 crore loss in its valuation on the stock markets on Friday.

Company's shares tumbled 4.2%, trading at ₹50.96 per share on Friday, as revenue from operations slid more than 60% to ₹611 crore and net loss more than doubled to ₹870 crore during the January to March period. For the full financial year, the company's total loss was at ₹2,276 crore, and last year the loss was ₹1,584 crore.

Notably, it was the first time during a quarter that revenue from operations of the leading e-scooter player fell below Ather Energy, which ranked fourth in the total electric scooter sales hierarchy.