Ola Electric shares climb; EV firm clarifies on CEO warrant

Shares of Ola Electric Mobility Ltd rose 4.86 per cent in Wednesday's early trade to hit a high of Rs 29.35, snapping a four-session losing streak. The uptick came after the pure-play electric vehicle (EV) maker issued a clarification on a media report titled: "Goa Consumer Commission Issues Bailable Warrant Against Ola CEO Bhavish Aggarwal."

Responding to an exchange query over the report, the company said, "The Hon'ble High Court of Bombay at Goa has stayed the warrant issued by the District Consumer Commission, South Goa. Additionally, the Hon'ble Court observed that the Commission exceeded its jurisdiction under the Consumer Protection Act in issuing the warrant. The Company requests that due note be taken of the aforesaid factual legal position."

On the financial front, Ola Electric reported a narrower consolidated net loss of Rs 490 crore for the December 2025 quarter (Q3 FY26), compared with a loss of Rs 560 crore in the preceding September quarter. However, revenue from operations declined sharply by 55 per cent year-on-year (YoY) to Rs 470 crore from Rs 1,045 crore in the corresponding quarter last year.

The company's earnings before interest, tax, depreciation and amortisation (EBITDA) loss stood at Rs 271 crore. On a YoY basis, the EBITDA loss narrowed.

Some market experts remained cautious on Ola Electric following its Q3 performance.

Avinash Gorakshakar termed the quarterly performance disappointing. "The numbers have been extremely disappointing. I think the markets were expecting some sort of turnaround after the positive management commentary post-Q2 numbers, but the numbers have not been coming. I think the biggest problem for Ola is that they don't have large cash reserves. The company continues to be loss-making. If volumes don't grow, it's going to be a very big negative surprise for the company," he told Business Today.

Kranthi Bathini, Equity Strategist at WealthMills Securities, noted, "Sales numbers are not growing and key revenue parameters are not improving. One can avoid this stock in the medium- to short-term," he added.