Ola Electric Q1 FY26 Results: Loss Widens to Rs 428 Crore, Revenue Falls 50% YoY

Ola Electric has reported a net loss of ₹428 crore for the first quarter of FY26, marking a 23% year-on-year increase from ₹347 crore in Q1 FY25. Revenue declined sharply by nearly 50% YoY to ₹828 crore, down from ₹1,644 crore in the same quarter last year.

Despite the wider loss, the company showed encouraging signs of recovery. The auto business segment turned EBITDA-positive in June, and gross margins improved from 18.4% last year to 25.8% in Q1 FY26. Consolidated EBITDA margin for the company stood at –28.6%, while the auto segment reported –11.6%.

Ola also made significant progress in cost optimization. Monthly operating expenses in the auto segment were reduced to Rs 105 crore, down from Rs 178 crore last year, contributing to improved unit-level economics.

In terms of deliveries, Ola shipped 68,192 electric two-wheelers, a decline compared to 1.25 lakh units in Q1 FY25. However, the company maintained an optimistic tone, targeting 35–40% gross margin for the full fiscal year.

Following the results, Ola Electric's shares surged by up to 17%, signaling investor confidence in the company’s cost-cutting efforts and turnaround strategy.