Ola Electric shares dropped 5.7% to their intraday low of ₹34.83 during morning market hours on Thursday, compared to ₹36.96 at the previous market close, according to NSE website data. As of 1:09 pm on Thursday, May 21, the stock was trading 4.41% lower at ₹35.32. The decline came after the company's Q4 earnings failed to boost market sentiment for the EV stock, with investors reacting to the reduction in revenues and subdued performance in the March quarter results.
In the March quarter results, Ola Electric's consolidated net loss narrowed to ₹500 crore from ₹870 crore in the same quarter of the previous financial year, according to NSE filings. However, the two-wheeler EV maker's revenue from core operations dropped 56.62% to ₹265 crore in the fourth quarter, compared year-on-year with ₹611 crore in the same period a year ago. The company's consolidated gross margin reached 38.5% as operating expenses decreased through the fiscal year, with cash burn reduced as sales recovered in the market.
Looking ahead to the first quarter of FY27, Ola Electric expects consolidated revenue in the range of ₹500-550 crore as the firm moves to hold margins, reduce operating expenses, and boost its Gigafactory operations. According to Citibank analysts, the Q4 results failed to beat estimates due to lower average selling price (ASP) of products and accounting changes for extended warranty. The analysts noted that while acknowledging Ola's gross margin improvement, sustained volume growth is needed before becoming more constructive, as 90% of Ola's operating expense is fixed.
Ola Electric shares have lost more than 30% returns on their investment in the last one year and more than 5.4% so far in 2026, according to NSE data. The stock was down 5.3% in the past one month and trading 1.5% lower in the last five market sessions. The company's market capitalisation was at ₹15,557 crore as of Thursday's trading session. The shares hit their 52-week high of ₹71.25 on September 4, 2025, while the 52-week low level was at ₹22.25 on March 16, 2026.
