Ola Electric Q2 results: Net loss narrows on higher sales, lower input costs

Ola Electric’s on November 8 said net profit narrowed in second quarter, helped by a jump in sales and lower raw material costs.

The Bengaluru-based company said its consolidated loss narrowed to Rs 495 crore in the July-September quarter from Rs 524 crore a year earlier.

In terms of the overall EV two-wheeler market, Ola Electric continues to dominate the segment. The firm, in fact, saw retail sales of around 50,000 units in October and commands a market share of around 30 percent.

While the company announced the results post-market hours, Ola Electric’s shares were down by 1.7%, trading at Rs 72.9 apiece during the day, below the issue price of Rs 76.