Ola Electric Surges Over 11%, Gives 60% Returns In A Week – News18

Ola Electric Mobility continues to rise on the stock market, with the shares surging 11.6 per cent in the opening trade on Friday to Rs 123 apiece on the BSE. With this, the company has given 60 per cent gains in the past one week since its listing on August 9.

The jump in Ola Electric’s shares on Friday comes after the electric mobility player on Thursday announced its foray into the electric motorcycle segment with the launch of three models and two more in the pipeline.

On Wednesday, Ola Electric Mobility also reported a higher consolidated loss of Rs 347 crore for the April-June quarter of 2024-25 compared to Rs 267 crore in the same period last year. Its revenue from operations for the quarter was Rs 1,644 crore against Rs 1,243 crore in the same quarter of the previous fiscal.

However, the company said its automotive segment (E2W) posted a strong improvement in EBITDA (earnings before interest, tax, depreciation and amortisation) margin and is close to EBITDA breakeven.