Bhavish Aggarwal, CEO of Ola Cabs, and founder of Ola Electric, poses with Ola electric scooters after the press conference ahead of the company's IPO launch in Mumbai, India, July 29, 2024. REUTERS/Francis Mascarenhas/ File Photo
BENGALURU (Reuters) -Ola Electric, India's top e-scooter maker, reported a wider first-quarter loss on Wednesday, hurt by the price cuts it took to boost demand after the government reduced incentives.
The company, which made its trading debut last week, said its loss widened to 3.47 billion rupees ($41.4 million) in the April-June quarter from 2.67 billion rupees in the year-ago quarter.
