Ola Electric shares surged to INR 74.74 in intraday trading, marking a 7.49% jump from its previous close
The stock traded 5.54% higher at INR 73.38 by 2 PM, while BSE benchmark declined 0.2% to 79,946.63 points
The company’s Q2 FY25 revenue rose 39% YoY to INR 1,214 Cr, though losses widened 43% QoQ to INR 495 Cr amid declining EV sales
Ola Electric’s shares gained as much as 7.49% at INR 74.74 during the intraday trading session on the BSE today (November 26).
However the shares shed some of the gains to trade 5.54% higher at INR 73.38 at 2 PM.
The EV manufacturer’s market capitalisation stood at INR 32,366.67 at 2 PM and as much as 45 Cr shares traded hands by then.
This surge in the stock comes despite the broader BSE benchmark falling 160.46 points or 0.2% to reach 79,946.63.
Earlier this month, Ola Electric
reported its Q2 FY25 results, where it trimmed its consolidated net loss to INR 495 Cr from INR 524 Cr in the year-ago period.
However, the loss widened by 43% compared to INR 347 Cr posted in Q1 FY25, amid declining EV sales.
The company’s operating revenue rose 39% to INR 1,214 Cr in Q2 FY25 from INR 873 Cr in Q2 FY24, though it fell 26.1% quarter-on-quarter.
(The story will be updated soon)
