Ola Electric Q1 FY26: Net loss widens to Rs 428 crore YoY; revenue tumbles 50%

Ola Electric Mobility Ltd on Monday reported a higher year-on-year (YoY) consolidated net loss for the April-June 2025-26 quarter (Q1 FY26), with the loss widening to Rs 428 crore compared to Rs 347 crore in the same period last year.

The pure-play electric vehicle (EV) company's revenue from operations declined sharply by 49.64 per cent to Rs 828 crore, down from Rs 1,644 crore in the year-ago quarter.

However, both the net loss of Rs 870 crore and the revenue of Rs 611 crore in Q4 FY25 reflected an improvement on a sequential (quarter-on-quarter) basis.

Ola Electric said its Q1 FY26 performance demonstrated strong financial discipline and execution. "The auto segment EBITDA improved sharply to -11.6 per cent, compared to -90.6 per cent in Q4 FY25, with June marking the first EBITDA-positive month for the auto business. The consolidated EBITDA also saw a substantial recovery to -28.6 per cent from the previous quarter," it stated in a release.

On the stock-specific front, Ola Electric dipped 0.60 per cent in early trade to touch an all-time low of Rs 39.58. However, the stock rebounded sharply following the release of its quarterly results and was last seen trading 6.33 per cent higher at Rs 42.34. Despite this rebound, the counter remains down 50.90 per cent on a year-to-date (YTD) basis.

Separately, a media report claimed that Maharashtra has decided to shut down nearly 90 per cent of Ola Electric's 450 showrooms in the state due to the absence of permits required to store unregistered vehicles. According to the report, Maharashtra contributed around 12 per cent of Ola Electric's 3,44,000 scooter sales in the previous financial year.

Founded in 2017, Ola Electric primarily manufactures EVs and certain core components such as battery packs, motors and vehicle frames at the Ola Futurefactory. As of March 2025, promoters held a 36.78 per cent stake in the electric two-wheeler (E2W) player.