Shares of Ola Electric dropped nearly 4% to 67.43 rupees (US$0.77) during intraday trading on Feb. 10, before settling at 67.80 rupees (US$78).

The company’s market capitalization reached 29.905 crore rupees (US$3.4 billion).

The decline followed Ola Electric’s Q3 FY25 report, which showed a net loss of 564 crore rupees (US$64 million), a 50% increase from 376 crore rupees (US$43 million) in Q3 FY24.

Meanwhile, revenue fell 19% year-on-year to 1.045 crore rupees (US$119 million) due to rising competition and service challenges.

Ola Electric’s stock closed at 70 rupees (US$80) on Feb. 7 and had previously hit an all-time low of 64 rupees (US$74) on Jan. 28, after debuting on August 2024, at 76 rupees (US$87) per share.

Despite financial losses, Ola Electric remained India’s top electric two-wheeler maker in January 2025, with Vahan data showing a 64% monthly increase in registrations to 22.656 units, raising its market share to 25%.

Recent Ola Electric developments