Ola Electric stock slips after earnings as revenue falls 57%
Ola Electric's stock slipped 5.65% on Thursday, touching an intraday low of ₹34.83 after its latest earnings report.
While the company managed to shrink its net loss to ₹500 crore (from ₹870 crore last year), revenue from operations took a big hit, down 57% to ₹265 crore compared to last year.
First positive operating cash flow ₹91cr
On the bright side, Ola Electric's gross margins jumped to 38.5%, and for the first time, it posted a positive operating cash flow of ₹91 crore thanks to better cost control.
EBITDA losses nearly halved too, dropping from ₹630 crore to ₹281 crore.
Still, brokerages like Emkay Global aren't fully convinced: they kept a "sell" rating but nudged their target price up slightly.
The stock is down over 6% this year and has lost 31% in value since last May.