Ola Electric lowers FY24 estimate by 60%

Ola Electric, which sells e-scooters, has reported consolidated revenues of Rs 2,782 crore in FY23, a 6X jump from the previous year. Losses, however, doubled to Rs 1,472 crore. The IPO-bound company has revised the estimates for FY24, as it sees slower sales following the government's decision earlier this year to lower subsidy levels for electric vehicles.

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