Ola Electric reported its first quarter results for FY25 after markets closed on Wednesday.

What Happened: Ola Electric posted a net loss of ₹347 crore for the April to June period. The losses jumped by 30% from ₹267 crore in the same quarter last year, the company's filings showed.

The company's revenue from operations stood at ₹1,644 crore, marking a 32% year-on-year increase from ₹1,279 crore. The revenue was dominated by its automotive business with a marginal contribution from the sale of cells. The firm’s total income came in at ₹1,718 crore compared to ₹1,279 crore in the corresponding quarter, last year.

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This is Ola Electric's maiden financial results after it was listed on the bourses on August 9.

The shares of the Bengaluru-based firm saw a flat listing on bourses. On the NSE, the stock was listed at ₹76, against expectations of a discounted listing. On BSE, Ola Electric was listed at ₹75.99 and closed at ₹91.20 on the listing day. Shares of the company have surged up 45% since listing.

Price Action: Shares of Ola Electric closed 2.61% higher at ₹110.99 on Wednesday.

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