New Delhi, May 20 -- Ola Electric announced on Wednesday that its fourth-quarter loss was smaller as the electric scooter maker focused on cost-cutting amid growing competition in India's fast-growing electric two-wheeler sector.

The EV company disclosed its Q4 results just a few minutes before market close, shares of Ola Electric Mobility ended nearly 1% higher at Rs.36.94 apiece on the BSE.

Pure-play electric two-wheeler manufacturer Ola Electric Mobility reported a consolidated net loss of Rs.500 crore for the March quarter, narrowing 42.5% from Rs.870 crore in the corresponding quarter last year. The loss attributable to the owners of the company declined amid continued cost-rationalisation efforts.

Revenue from operations stood at...