Ola Electric has reported a consolidated net loss of Rs 336 crore for the June quarter, narrower than the Rs 428 crore loss a year ago. Revenue from operations, however, fell 45% year-on-year to Rs 455 crore, from Rs 828 crore in the same period last year.
The results come after a turbulent FY26, and the company describes its next phase as one of “disciplined scale”.
The numbers
Total income stood at Rs 484 crore, including Rs 29 crore of other income. Total expenses declined sharply to Rs 620 crore, from Rs 1,065 crore in the corresponding quarter last year.
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The story improves on a sequential basis. Revenue rose about 72% from Rs 265 crore in the March quarter, and the net loss narrowed from Rs 500 crore.
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Volumes are coming back
Orders nearly doubled to 44,071, from 22,522 in the previous quarter. Deliveries climbed to 39,192 from 20,256, and registrations rose about 99% quarter-on-quarter to 43,921.
Ola’s share of the electric two-wheeler market increased to 8.4%, from 5.1% in the March quarter. The company also says AI is now embedded across sales, registration, fulfilment, service and cell R&D.
Costs and margins
Consolidated operating EBITDA remained negative at Rs 164 crore, but the loss on this measure narrowed from Rs 281 crore. Consolidated gross margin fell to 30.5% from 38.5% in Q4 FY26, even as gross profit rose to Rs 139 crore.
Ola said it continues to target steady-state quarterly operating expenses of about Rs 300 crore, down from roughly Rs 333 crore in the June quarter.
The balance sheet boost
In June, Ola raised about Rs 780 crore through a Qualified Institutions Placement, allotting 217.6 million shares at Rs 35.86 each. The offering was 56% oversubscribed.
There is a caveat, though. The auditor flagged an accounting matter at subsidiary Ola Cell Technologies involving liquidated damages and an investment-milestone extension request pending with the Ministry of Heavy Industries.