Ola Electric's stock falls 6% on dismal Q3 results
Ola Electric's stock declined up to 6% intraday after its Q3 results showed revenue declined about 55% year-on-year and volumes declined 61% year-on-year.
The company was trading 5.4% lower at ₹29.1 apiece just after market open, reflecting a tough quarter.
Why this matters
Ola's struggles matter because it's one of India's biggest EV players—so when they stumble, it says a lot about the market.
Net loss narrowed sequentially (₹490 crore in Q3 vs ₹560 crore in the previous quarter), and operating margins are still deep in the red.
It's a reminder that big names aren't immune to tough times.
What's next for Ola?
Brokerage Emkay Global downgraded Ola's stock to "sell," cutting its target price by more than half due to falling sales and service complaints.
Ola has trimmed expenses and founder Bhavish Aggarwal calls their reset a "structural reset," aiming for long-term stability over quick wins—even if that means shrinking market share for now.