EV player Ola Electric Mobility Ltd shares sank over seven percent after a large block deal involving shares with Rs 731 crore took place in the morning session on Tuesday, June 3.
Around 14.22 crore shares, which amounts to 3.23 percent equity, exchanged hands at Rs 51.4 per share. This implies a discount from the previous session's closing price of Rs 53.68 apiece.
According to sources, Hyundai Motor India may be the likely seller in the Ola Electric block deal. As per the March shareholding details, Hyundai Motor India held a 2.47 percent stake in the firm.
At 10.45 am, shares of the Ola Electric Mobility were quoting Rs 50.28, lower by 6.3 percent on the NSE.
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The company reported a wider net loss at Rs 870 crore in the fourth quarter of FY25 as compared to a loss of Rs 416 crore a year ago, weighed down by steep discounts and falling sales.
The electric scooter-maker's revenue from operations fell 62 percent on-year to Rs 611 crore in Q4FY25 from Rs 1,598 crore in Q4FY24. The vehicle registrations dropped over 52 percent on-year to 56,760 units during the quarter under review. The number of deliveries nearly halved to 51,375 units.
The management has said that it is aiming at profitability this year, as well as improvement in margins.
"FY26 will be focused on scaling revenue and operating leverage as we march towards sustainable profitability. With a robust product roadmap, vertical integration and R&D focus, and strong distribution and service infrastructure, we are well positioned to drive the next phase of EV adoption in India across both scooters and motorcycles," the EV-maker said.
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