Today, March 20, the share price of Ola Electric is under scrutiny due to a difference in sales figures; examine the developments that are taking place.
In Thursday’s trading, Ola Electric Mobility’s share price will be steady. According to sources cited by CNBC-TV18, Ola Electric has been asked to provide an explanation for the discrepancy between the company’s stated sales and actual car registrations. Multiple Ola showrooms were inspected by Maharashtra RTO officials.
Financial Express had previously written about the disparity in the sales figures. Although just 8,600 vehicles were registered according to the Vahan Portal, the corporation claimed to have sold 25,000 vehicles in the preceding month. The price of an Ola share has dropped by over 40% since it was listed on the NSE for Rs 76. It reached its 52-week low of Rs 46.37 two days ago.
The disparity in sales figures occurred one week after Ola was in legal hot water with state and federal transportation authorities for lacking trade certifications. Raids, showroom closures, car seizures, and show-cause warnings were all carried out by the government.
Ola Q3 outcome
The third quarter of FY25 saw a net loss of Rs 564 crore for the company, up from a net loss of Rs 376 crore in the same quarter last year. Following this, the business reported a net loss of Rs 495 crore. In Q3 FY25, its operating revenue fell 19.36% YoY to Rs 1,045 crore from Rs 1,296 crore in the same quarter the previous year.
Price of Ola shares versus Nifty
The last five trading sessions have seen a 6.4% increase in OLA Electric’s share price. Over 51% of investors’ capital was lost in the last six months, and the stock has dropped nearly 13% in the last month. Since its peak in August 2024, its value has dropped by more than 60%.
In contrast, the Nifty 50 benchmark index has increased by 1.88% during the past five days. In the last six months, it has fallen more than 11%, and in the last month, it has made very little progress. The index has risen by about 5% during the past 12 months.
