Now Reading: Ola Electric Q1 net loss narrows 22% to Rs 336 crore
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Ola Electric Q1 net loss narrows 22% to Rs 336 crore
Ola Electric's Q1 net loss narrowed 22% year-on-year to Rs 336 crore, even as operating revenue plunged 45% to Rs 455 crore. Total expenses fell 42% to Rs 620 crore. On a…
The Story in Brief
Ola Electric's Q1 net loss narrowed 22% year-on-year to Rs 336 crore, even as operating revenue plunged 45% to Rs 455 crore. Total expenses fell 42% to Rs 620 crore. On a quarter-on-quarter basis, revenue rose 72% from Rs 265 crore, and the loss shrank 33% from Rs 500 crore. Shares have gained 31% in six months and nearly doubled from a March low of Rs 22.25, boosted by a BESS MoU with Axis Energy and PLI certification. However, the stock remains 74% below its all-time high of Rs 157.40. Analysts at Ventura recommend a 'Hold', warning that further upside depends on visible operating improvement, not just sector tailwinds.
According to the Economic Times, technical analyst Hitesh Rathi of Angel One says the stock has formed strong resistance at Rs 45-47 and needs to reclaim Rs 50 to invalidate a bearish short-term structure. Inc42 reports that Ola Electric's total income, including other income of Rs 29 crore, stood at Rs 484 crore for the quarter.
The Indian Opinion
The stock cheer after Ola Electric's Q1 numbers ignores a hard fact: revenue is still down 45% from last year. The narrative of a turnaround rests on cost cuts and a battery-storage MoU, but neither replaces lost scooter sales. IPO investors remain 74% underwater. Bulls point to a doubling from March lows; bears see a dead-cat bounce stuck below Rs 50. The real test will be Q2: can the company grow revenue without burning cash faster than it did this quarter?
Sources (3): ndtvprofit.com, economictimes.indiatimes.com, inc42.com
This story was synthesised by AI from the 3 sources linked above.
Updated: this story now draws on 3 sources.
