Ola Electric Mobility Ltd (NSE: OLAELEC): The share of Ola Electric has fallen below Rs 71 (10 AM). Ola Electric’s share fell 3% to 70.54 rupees on the 11th of November, Monday, the Bombay Stock Exchange.
The share of the company is at an all-time low of 52 weeks. Ola Electric Mobility Ltd is still at an operating loss.
Electric automobile maker Ola Electric Mobility Ltd suffered a loss of 495 crore rupees during this quarter’s financial year from September to September.
However, the company’s loss is lower than last year’s. For the quarter ending September of the previous fiscal year, this company posted losses of 524 crore rupees.
In the same period that, in the quarter ended June 2024 the company posted an operating loss of 347 crore rupees.
Ola Electric’s Revenue Has Grown By 39%
Ola Electric’s revenue grew by 39.1 % over the September quarter of the current fiscal year. Ola Electric’s revenue for the September 2024 quarter was 1,214 crore rupees.
The company’s revenue was 873 crore rupees in the exact time frame a year ago. The company’s gross margin in the July-September 2024 quarter was 20.3 percent.
Ola Electric Mobility Ltd delivered 98,619 units in this month’s September quarter financial year. The company has experienced a growth of 73.6 % compared to the same period last year.
The Share Price Of Ola Electric In The IPO Was Rs 76
The price for shares on Ola Electric’s IPO was 76 rupees. The company’s IPO was opened to subscriptions on 2 August 2024 and remained open until the 6th of August. The share of the company was listed on BSE on the 9th of August, for 75.99 rupees.
On the day of its listing, the share of the company closed at 91.18 rupees with a rise. Following the listing, the company’s share soared for a couple of days.
Ola Electric Mobility Ltd’s share reached Rs 157.40 on 20 August 2024 and made a new 52-week high. However, the share of the company has been declining in this area. Ola Electric’s IPO was a success, with a subscriber count amount of 4.45 times.
Quick Fact
| Company name | Ola Electric Mobility |
|---|---|
| Current price (noon) | ₹76 |
| Previous close | ₹72.72 |
| Operating loss (Sep quarter) | ₹495 crore |
| Previous year same quarter loss | ₹524 crore |
| Loss (Jun 2024 quarter) | ₹347 crore |
| Revenue growth (Sep quarter) | 39.1% |
| Revenue (Sep 2024 quarter) | ₹1,214 crore |
| Revenue (previous year, same period) | ₹873 crore |
| Gross margin (Jul-Sep 2024 quarter) | 20.3% |
| Units delivered (Sep quarter) | 98,619 |
| Delivery growth | 73.6% |
| IPO price | ₹76 |
| IPO opening date | 2 August 2024 |
| IPO closing date | 6 August 2024 |
| BSE listing date | 9 August 2024 |
| Listing price | ₹75.99 |
| Closing price on listing day | ₹91.18 |
| Highest share price (52 weeks) | ₹157.40 |
| Date of highest share price | 20 August 2024 |
| IPO subscription count | 4.45 times |
Disclaimer: The website and its content are for informational purposes only and should not be considered investment advice.
