India's Ola Electric hits 5% lower limit after cutting FY revenue forecast

Ola Electric Mobility

06/11/2025 06:56

** Shares of Ola Electric OLAE.NS fall 5%, the exchange-mandated lower limit, to 47.55 rupees, a two-month low

** Electric two-wheeler maker lowers FY rev forecast to a range of 30 bln - 32 bln rupees ($341.32 million - $364.07 million) from 42 bln - 47 bln rupees; maintains gross margin target of 40% for autos

** Q2 consol net loss narrowed to 4.18 bln rupees from 4.95 bln rupees y/y

** Core automotive segment posts first operating profit with EBITDA of 20 mln rupees

** Expenses down 44% as raw material costs decline after beginning to fit its own battery cells instead of importing

** YTD, OLAE down 44.5%

($1 = 87.8950 Indian rupees)

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))