Ola Electric net loss narrows to seven-quarter low, revenue falls

Ola Electric is a company that makes electric scooters and motorcycles.

Every few months, it tells everyone how much money it made or lost.

In the last three months, it lost less money than it did before, which is good news.

But it sold far fewer vehicles than it did a year ago, so the money coming in dropped a lot.

The company cut its spending, which helped reduce its losses.

Even with fewer sales, more people bought its vehicles than in the previous three months.

The company is also trying a new way to sell vehicles through dealerships.

It wants to sell big batteries for storing energy and signed a deal to build huge battery storage systems.

The company hopes its sales and new businesses will grow in the coming months.