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The once industry leader, Ola Electric, reported a dismal March quarter, with a sizeable fall in its revenue and losses expanding twofold. In comparison, the recently listed Ather Energy posted a decent improvement in financials for the quarter.
For the quarter ended March, the Bhavish Aggarwal-led electric scooter maker reported a 62% decline in sales to Rs 611 crore, a precursor to the decline in market share two months later. The EV maker saw its loss double to Rs 870 crore, from Rs 416 crore in the year-ago period.
Ola Electric’s financials were…
