Ola Electric posts Rs 428 crore loss in Q1 FY26 as revenue halves

Ola Electric reported a Q1 FY26 net loss of ₹428 crore as revenue fell nearly 50% YoY to ₹828 crore. E-scooter deliveries dropped sharply, and share prices continue to slump amid rising losses and operational consolidation efforts

New Delhi: Bhavish Aggarwal-led electric two-wheeler maker Ola Electric on Monday reported a consolidated net loss of Rs 428 crore in Q1 FY26, as revenue from operations also nosedived to Rs 828 crore a 49.6 per cent year-on-year decline from Rs 1,644 crore revenue in the same quarter last fiscal.

The net loss widened by nearly 30 per cent (year-on-year) from Rs 347 crore net loss in Q1 FY25 for the company, according to its stock exchange filing.

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The e-scooter deliveries were also hit year-on-year from 1,25,198 in Q1 FY25 to 68,192 in Q1 FY26. The earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss was reported at Rs 237 crore against Rs 205 crore year-on-year.

Ola Electric expects FY26 volumes to be around 3,25,000-3,75,000 vehicles and revenue to be around Rs 4,200-Rs 4,700 crore. “Our goal in this phase is to consolidate and institutionalise our operations, improve our margins, and get ready for the next phase of growth driven by our expanding product portfolio,” said the company in its shareholders’ letter.

The company said it is ready with in-house solutions for risks like rare earth magnets and Anti-lock Braking System (ABS).

The share of Ola Electric Mobility was trading in the range of Rs 40-Rs 42 in early trade. The share recently touched its 52-week low of Rs 41.82, far below its 52-week high of Rs 157.4. The long-term view is even more worrying. In the last six months, the share price has fallen by more than half — 51.25 per cent — and over the past year, it is down 53.9 per cent.

In Q4 FY25, Ola Electric posted a net loss of Rs 870 crore, which was more than double the Rs 416 crore loss it had in the same quarter of the previous year. Its revenue from operations also fell by 62 per cent year-on-year (YoY), dropping to Rs 611 crore.