Ola Electric Mobility, led by Bhavish Aggarwal, has experienced a significant decline in its share price, hitting an all-time low of Rs 23.82 on March 2. The company has slipped out of the top five players in the Indian EV scooter market following a sharp drop in monthly sales.
According to data from Vahan, Ola Electric saw a 47% decrease in sales in February, selling only 3,968 units and reducing its market share to 3.55%. This decline led to the company’s exclusion from the top five electric two-wheeler manufacturers for the month.
In February, the entire electric two-wheeler market faced a slowdown, with total registrations plummeting by over 9% to 1,11,680 units, mainly due to the shorter month.
Despite these challenges, TVS Motor Company maintained its lead in the segment with 31,600 registrations and a 28.3% market share. Ather Energy, a competitor of Ola, held onto its third position with 20,581 registrations and an 18.43% market share in February.
Financially, Ola Electric’s revenue from operations dropped to 470 crore in Q3 FY26, down from Rs 1,045 crore in the same quarter of the previous year. However, the company managed to reduce its losses by 14% to Rs 487 crore during the same period.
Ola Electric’s shares are currently trading at Rs 23.92. The company’s market capitalization stands at Rs 10,528 crore ($1.1 billion) as of 12:40 PM.
Source: Entrackr : Latest Posts