Stock Below Rs 50: EV Major Reports 21% Lower Net Loss in Q1 FY27; Raises Rs 780 Crore Through QIP
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Ola Electric Mobility reported a sequential improvement in Q1 FY27 performance, with revenue rising 72 per cent QoQ and net loss narrowing, while the board also approved the appointment of a new internal auditor
✨ Key Takeaways
On Friday, Indian equity benchmark indices traded lower, with the benchmark Nifty 50 index falling 65.35 points, or 0.27 per cent, to 24,570.65. Amid the weak market sentiment, Ola Electric Mobility share price declined 0.89 per cent to Rs 41.07 after the company announced its Q1 FY27 financial results and other board meeting outcomes.
Ola Electric Mobility Q1 FY27 Financial Performance
Ola Electric reported consolidated revenue from operations of Rs 455 crore in Q1 FY27, compared with Rs 828 crore in Q1 FY26, reflecting a 45.0 per cent year-on-year decline. However, revenue increased sharply from Rs 265 crore in Q4 FY26, registering a 71.7 per cent quarter-on-quarter growth.
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Download Service BrochureThe company's loss before Tax narrowed to Rs 336 crore from Rs 428 crore in the corresponding quarter last year, while net loss improved to Rs 336 crore compared with Rs 428 crore in Q1 FY26, representing a 21.5 per cent reduction in losses. Earnings per share (EPS) improved to Rs (0.75) from Rs (0.97) in the year-ago period.
QIP Strengthens Liquidity
During the quarter, the company raised Rs 780 crore through a Qualified Institutional Placement (QIP) by allotting 21.76 crore equity shares at an issue price of Rs 35.86 per share. The proceeds will be utilised for capital expenditure, debt repayment, working capital requirements and other financial commitments, strengthening the company's liquidity position.
Also Read - This Stock Falls 3% Despite Reporting 39% PAT Growth in Q1 FY27
Ola Electric Mobility Board Approvals
The Board approved the appointment of TRC Corporate Consulting Private Limited as the Internal Auditor of the company for FY2026-27. The firm provides governance, risk, compliance, internal audit, enterprise risk management, cyber security, valuation, taxation and advisory services, with a team of over 300 professionals serving more than 400 clients.
About Ola Electric Mobility
Ola Electric Mobility Ltd is one of India's leading electric vehicle manufacturers focused on electric scooters, battery technology and EV ecosystem development. The company also operates in advanced cell manufacturing and EV charging infrastructure through its subsidiaries.
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Disclaimer: The article is for informational purposes only and not investment advice.