Ola Electric Mobility share price gains more than 3% amid volatile markets post general business updates. Check details

Stock Market today: Ola Electric Mobility share price gain more than 3% during intraday trades on Wednesday, amid volatile markets as the company posted general business updates

The Ola Electric Mobility share price opened saw a positive opening on the BSE on Wednesday. Ola Electric Mobility share price opened at ₹50.99 and the opening price of Ola Electric Mobility shares was higher compared to previous days closing at ₹50.91. Ola Electric Mobility share price thereafter continued edging slightly higher to intraday highs of ₹52.58, which meant gains of more than 3% for Ola Electric Mobility share price. This was despite volatile markets as benchmark Indices saw cuts of up to half a per cent.

Ola Electric Mobility business Updates

Ola Electric Mobility providing general business Updates on Wednesday 12 March said that it has successfully finished implementation of its Network Transformation and Opex Reduction Program. This Country wide initiative was launched by Ola Electric Mobility in November 2024 with an aim to reduce cost and improve customer experience.

This program has resulted in a steady monthly cost reduction of ₹90 crores as per Ola Electric Mobility. The financial impact of these actions will start to fully manifest in April 2025, and the company anticipates achieving Automotive segment Ebitda breakeven for the upcoming quarter (Q1 FY 26). Ebitda stands for Earnings before Interest, Tax , Depreciation and Amortisation.

Projects to transform the distribution network as per Ola Electric Mobility including automating registration and other procedures, shipping vehicles, spare parts, and accessories straight from the factory to retail locations, closing all regional warehouses, and increasing sales and service network productivity, also have yielded results. These adjustments have reduced typical vehicle inventory from about 35 to 20 days and shortened customer delivery times from 12 days to 3–4 days, in addition to cost savings as per Ola Electric.

The vehicle registration process transformation is also in its final stages. The Company’s daily registrations have improved significantly, increasing to over 800 per day and crossing the average daily sales for January’25 - February’25 it said.

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