Shares of Ola Electric Mobility Ltd dropped more than 7 percent in early trade on Tuesday, June 3, following a big block deal worth ₹731 crore.
About 14.22 crore shares, equal to 3.23 percent of the company’s equity, were traded at a price of ₹51.4 per share, which is lower than the previous day’s closing price of ₹53.68. This means the shares were sold at a discount.
According to market sources, Hyundai Motor India is likely the seller in this deal. As of March, Hyundai held a 2.47 percent stake in Ola Electric.
By 10:45 am, Ola Electric shares were trading at ₹50.28, down 6.3 percent on the NSE.
This fall comes after Ola Electric reported a bigger net loss of ₹870 crore in the fourth quarter of FY25, compared to a loss of ₹416 crore in the same period last year. The company faced challenges due to heavy discounts and weak sales.
Revenue from operations also dropped 62 percent year-on-year to ₹611 crore, compared to ₹1,598 crore in Q4 FY24. The number of vehicle registrations fell by more than 52 percent to 56,760 units, and deliveries fell to 51,375 units.
The company’s management has said it is working on improving margins and reaching profitability in FY26. They plan to focus on increasing revenue, expanding their product line, and boosting service and distribution.
“FY26 will be focused on scaling revenue and operating leverage as we march towards sustainable profitability,” the company said, adding that they are confident about driving the next phase of EV growth in India, including scooters and motorcycles.
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Source: Moneycontrol
News Desk
