Ola Electric Plunges as Losses More Than Double Amid Sales Drop
Ola Electric Mobility Ltd. declined the most in more than a month, after reporting quarterly losses that more than doubled from a year ago as sales dropped.
The shares declined as much as 9.7%, the most intraday since April 7. Net loss was at 8.7 billion rupees ($102 million) in the quarter ended March 31, compared with 4.16 billion rupees a year ago, the company said in a statement Thursday.
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