New Delhi, May 30 -- Ola Electric's investors' rush to sell their stake in the company led to a nearly Rs.1,000 crore loss in its valuation on the stock markets on Friday.

Company's shares tumbled 4.2%, trading at Rs.50.96 per share on Friday, as revenue from operations slid more than 60% to Rs.611 crore and net loss more than doubled to Rs.870 crore during the January to March period. For the full financial year, the company's total loss was at Rs.2,276 crore, and last year the loss was Rs.1,584 crore.

Notably, it was the first time during a quarter that revenue from operations of the leading e-scooter player fell below Ather Energy, which ranked fourth in the total electric scooter sales hierarchy.

The revenue fall was due to a decli...