Ola Electric's Q1 loss widens to ₹428cr, revenue plummets 50%
What's the story
Ola Electric Mobility has announced its financial results for the first quarter of FY26. The company reported a consolidated net loss of ₹428 crore, which is 23% higher than the ₹347 crore loss in the same period last year. Revenue from operations also saw a major decline, plummeting by nearly 50% year-on-year to ₹828 crore.
Financial overview
Revenue from operations and total expenses
The company's revenue from operations for the quarter ending June 30, 2025, stood at ₹828 crore. This is a significant drop from the ₹1,644 crore it recorded in the same period last year. During April to June, Ola Electric was able to cut its total expenses by 42.4% year-on-year to ₹1,065 crore, down from ₹1,849 crore during the same time last year.
Financial metrics
Gross margin and EBITDA
Ola Electric's gross margin for the first quarter of FY26 stood at ₹214 crore, a 29.4% decline from ₹303 crore in the same period last year. The company's EBITDA was reported at a negative ₹237 crore, compared to a negative ₹205 crore in the corresponding quarter last year. Ola Electric delivered 68,192 vehicles during the quarter. The company's auto business turned EBITDA positive in June, a major milestone for the firm.