Ola Electric shares dip 5% despite registering 23% monthly sales growth in May; everything investors should know

Ola Electric Mobility shares dropped 5% to an intraday low of ₹39.55 apiece on Monday, June 1, despite the firm reporting growth in monthly sales for May.

According to VAHAN data, Ola Electric recorded 15,139 units in May 2026, up from 12,323 units in April 2026. This reflects a month-on-month (MoM) increase of about 23%, continuing the upward trend seen in March and April 2026.

Data showed industry volumes grew from approximately 148,000 units in April 2026 to around 170,000 units in May 2026, showing growth of about 15%. Ola Electric said against this backdrop, the firm grew nearly three times faster than the industry.

The third consecutive month of robust sales recovery comes on the back of a front-end retail rejig and better operational execution, as Ola's two-wheeler EV portfolio bounces back amid petrol price increases, marking a broader market shift to electric vehicles.

Ola Electric said it remains focused on expanding EV penetration through technology, scale, affordability, and its vertically integrated manufacturing platform spanning vehicles, batteries, and cells.

“The strong demand environment, coupled with increasing traction for our Roadster portfolio, has helped us maintain the growth momentum. We remain focused on accelerating EV adoption through innovative products, technology leadership, and scale," said an Ola Electric spokesperson.

Last week, the Bhavish Agarwal-led company had secured regulatory approval for a new electric scooter aimed at India's commercial mobility market, according to a government certification document, signalling the company may be preparing to enter the fast-growing commercial EV two-wheeler segment as early as this quarter.

Ola Electric Q4 earnings

The electric two-wheeler maker had narrowed its consolidated net loss to ₹500 crore in the March quarter of FY26. The consolidated net loss was ₹870 crore in the quarter ended on March 31, 2025.

Revenue from operations fell 56.62% to ₹265 crore in the reporting quarter from ₹611 crore recorded in the same period a year ago. The company reported an EBITDA (earnings before interest, taxes, depreciation, and amortisation) loss of ₹82.2 crore for the quarter, compared to an EBITDA profit of ₹6.5 crore a year ago.

In an exchange filing, the firm had said that Q4 FY26 was a low-volume quarter, but it also reflected the reset working.

Ola Electric share price

At 12 PM, Ola Electric Mobility shares were trading at ₹40.40 apiece on the National Stock Exchange, falling 2.63%.

Over a month’s time, the stock has gained 11%, while it has lost nearly 1% in the last six months. From the beginning of the year, Ola Electric shares have climbed 8%.

The company has a market capitalisation of ₹17,837.40 crore.

Shares of the company had touched their one-year high of ₹71.25 apiece on September 4, 2025, while their 52-week low of ₹22.25 was hit on March 16, 2026.