Ola Electric Mobility’s share price to remain focused in Thursday’s trade. The Ministry of Heavy Industries has sought clarification from Ola Electric regarding the mismatch between the company’s reported sales and actual vehicle registrations, reported CNBC-TV18 citing sources. The Maharashtra RTO authorities conducted inspections at several Ola showrooms.
Financial Express had earlier reported about discrepancy in the sales numbers. The company claimed to have sold 25,000 vehicles in the previous month, however, as per the Vahan Portal only 8,600 vehicles were registered. The Ola share price is down more than 40% from its listing price of Rs 76 on the NSE. Two days ago, it hit the 52-week low of Rs 46.37.
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The discrepancy in sales data came a week after Ola faced regulatory trouble with transport authorities across various states for not having trade certificates. The authorities conducted raids, closed showrooms, seized vehicles, and sent show-cause notices.
Ola Q3 result
The company reported a net loss of Rs 564 crore for the third quarter of FY25, which widened from a net loss of Rs 376 crore posted in the year-ago quarter. Sequentially, the company announced a net loss of Rs 495 crore. Its revenue from operations in Q3 FY25 dropped 19.36% YoY to Rs 1,045 crore, compared to Rs 1,296 crore in the same quarter last year.
ALSO READNilesh Shah’s 6 market insights: What every investor should know Ola share price Vs Nifty
The share price of OLA Electric has risen 6.4% in the last five trading sessions. However, the stock has fallen almost 13% in the past one month and wiped out over 51% of investors’ wealth in the previous six months. It has lost more than 60% value from its peak in August 2024.
To compare, the benchmark index, Nifty 50 has risen 1.88% in the last five days. It has given negligible gains in the past one month and dropped over 11% in the last six months. The index has increased by almost 5% in the previous one year.
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