Shares of Ola Electric Mobility Ltd. are locked in a 5% lower circuit on Thursday, November 6, in response to its September quarter results announcement. The company has also cut its revenue and margin guidance for the full year.

The company's net loss at the end of the September quarter narrowed to ₹418 crore from a net loss of ₹495 crore it reported during the same quarter last year. Estimates from Kotak Institutional Equities had pegged the loss to narrow further to ₹346 crore.

Kotak had projected losses for the quarter to narrow due to lower provisions from last year, cost control measures, and a higher mix of the Gen-3 platform.

Revenue for the quarter declined by 43.2% to ₹690 crore from ₹1,214 crore last year. The figure is in-line with the Kotak projection of ₹685 crore. A decli

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