On Friday last week, the company announced that its board will be holding its first board meeting after the listing on August 14, announcing the first quarter results for the financial year 2025.
Earlier, Ola Electric reported a significant increase in revenue, rising to Rs 5,009.8 crore in FY2024 from Rs 2,630.9 crore in FY2023. This growth was primarily driven by increased sales of the Ola S1 and Ola S1 Pro scooters and the commencement of deliveries of the Ola S1 Air and Ola S1 X+ in fiscal 2024.
However, the company’s losses also widened to Rs 1,584.4 crore in FY2024, up from Rs 1,472 crore the previous year.
Since its listing, Ola Electric shares have surged to Rs 113 as of August 14, up from the listing price of Rs 76. The stock peaked at Rs 130 on August 13, marking a 71% gain before retreating to Rs 100.3 due to profit-taking.In today’s trading session, the stock has fallen 7% to Rs 100.3 after an initial 5% rise ahead of its Q1 results.Additionally, Bhavish Aggarwal’s Ola Electric is set to unveil its much-anticipated electric motorcycle on August 15 during the company’s annual “Sankalp 2024” event at the FutureFactory. This launch marks Ola’s first entry into the electric bike segment, joining its existing lineup of electric two-wheelers like the S1X, S1 Air, and S1 Pro.Ola Electric is a leading player in India’s electric two-wheeler market, with the highest revenues among EV two-wheeler manufacturers. The company is also developing vertically integrated technology and manufacturing capabilities for EVs and components, including cells. These are manufactured at the Ola FutureFactory.
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