Mumbai: Shares of Ola Electric Mobility fell sharply on Monday, touching an all-time low of Rs 43.20 on the Bombay Stock Exchange (BSE).
The stock dropped by nearly 6 per cent during the intra-day trading session after a block deal involving 0.8 per cent of the company’s equity took place.
Shares worth around Rs 107 crore were traded in this deal, but the names of the buyers and sellers were not made public.
At around 1 P.M., Ola Electric’s shares were trading at Rs 43.92, down Rs 2.16 or 4.69 per cent for the day.
The drop in share price is also being linked to the company’s weak financial performance in the fourth quarter (Q4) of FY25.
Ola Electric reported a net loss of Rs 870 crore, which is more than double the Rs 416 crore loss it reported in the same period previous fiscal (Q4 FY24).
The losses were driven by heavy discounts and falling sales. Revenue from operations fell 62 per cent Year-on-Year (YoY) to Rs 611 crore.
Vehicle registrations dropped over 52 per cent to 56,760 units, and deliveries were down by half at 51,375 units.
However, Ola Electric’s management remains optimistic. The company said it is focused on becoming profitable by FY26.
Since its IPO in August 2024, Ola Electric’s stock has seen a sharp decline. The company was listed at Rs 91.20 per share against an issue price of Rs 76.
However, the stock has now fallen over 43 per cent from its IPO price and has plunged 72 per cent from its 52-week high of Rs 157.50.
In the past week alone, the shares have declined by 6.2 per cent, or Rs 2.90, according to BSE analytics data.
In the past month, the fall has been Rs 9.03, or 17.07 per cent. Over the last three months, the stock is down by Rs 12.12 or 21.64 per cent.
On a year-to-date (YTD) basis, it has lost Rs 42.35 or 49.11 per cent. Over the last six months, the stock has fallen by Rs 48.75 or 52.63 per cent.
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