India's Ola electric falls as weak sales outweigh narrower quarterly loss
BUZZ-India's Ola electric falls as weak sales outweigh narrower quarterly loss ** Ola Electric Mobility OLAE.NS shares fall 4.5% to 39.23 rupees
** June-qtr revenue from operations fall 45% YoY to 4.55 billion rupees ($47.79 million)
** Quarterly net loss narrows to 3.36 billion rupees from 4.28 billion rupees a year earlier
** Q1 deliveries at 39,192 units, down 42.5%, from 68,192 vehicles it delivered in the same qtr last year
** "1Q showed operational recovery, but the quality of improvement remains weak," - Ambit Capital
** Brokerage says valuation comfort remains limited amid intensifying competition, an unproven brand and service turnaround, continued cash burn and reliance on a sustained recovery in volumes to achieve breakeven
** 6 of 8 brokerages rate the stock "sell" or lower; their median PT is 32.5 rupees
** YTD, stock up 13.3%
($1 = 95.2000 Indian rupees)
(Reporting by Abhinav Parmar in Bengaluru)
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