- By Aditya Pratap Singh
- Mon, 11 Nov 2024 11:51 AM (IST)
- Source:JND
Ola Electric Share Price: Ola Electric shares fell 3 per cent to Rs 70.54 on the Bombay Stock Exchange on Monday, to touch a new 52-week low after the electric two-wheeler manufacturer reported a loss in the July-September Quarter. Ola Electric reported a loss of Rs 495 crore in the September quarter of the current financial year, however, the company's losses have reduced as compared to the same period last year. The company had a loss of Rs 524 crore in the September quarter of the last financial year, While in June Quarter it reported a net loss of Rs 347 crore.
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Ola Electric's revenue has grown by 39%
Ola Electric's revenue grew by 39.1 per cent year-on-year in the September quarter of the current financial year. Ola Electric's revenue in the September 2024 quarter stood at Rs 1214 crore, the company's revenue was Rs 873 crore in the same period a year ago. Ola Electric's gross margin in the July-September 2024 quarter stood at 20.3 per cent. The company has delivered 98,619 units of vehicles in the September quarter of the current financial year. It has recorded a growth of 73.6 per cent as compared to the same period last year.
Ola Electric IPO Price Band Was Rs 76 Per Share
The share price in Ola Electric's IPO was Rs 76 and the IPO opened for subscription on August 2, 2024, and closed on August 6. The company's shares were listed on the BSE on August 9 at Rs 75.99. On the day of listing, the company's shares soared to close at Rs 91.18 a massive gain. After listing, the company's shares saw a tremendous rise for a few days. Ola Electric's shares touched Rs 157.53 on August 20, 2024, and touched a new 52-week high. However, the company's shares are seeing a decline. Ola Electric's IPO was subscribed a total of 4.45 times.
