Ola Electric Mobility reported a consolidated loss of Rs 500 crore in the March quarter. While the electric vehicle maker’s losses narrowed on a yearly basis, compared to a loss of Rs 870 crore in Q4 FY25, on a quarterly basis, its loss expanded 2.6% as compared to Rs 487 crore in Q3 FY26.

Ola Electric’s revenue continues to slide in the fourth quarter as well. The Bhavish Aggarwal-led company reported a consolidated revenue of Rs 265 crore in Q4 FY26. Its revenue was down 56% year on year, compared with Rs 611 crore in Q4 FY26. On a quarterly basis, its revenue declined 43%.

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Ola Electric said that it delivered 20,256 units in Q4 FY26 and 1,73,794 units for FY26. For the full fiscal year, Ola Electric’s revenue was at Rs 2,253 crore. 

Ola Electric: Q4 margin improves 

Ola Electric’s consolidated gross margin expands to 38.5% in Q4 FY26, up from 34.3% in Q3 FY26 and 13.7% in Q4 FY25. The company stated that the March quarter became its first operating cash flow-positive quarter.

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“FY26 was a reset year for Ola Electric. We strengthened the fundamentals of the business across service, product quality, gross margins, operating costs, cash discipline, sales productivity, and cell manufacturing,” Ola Electric spokesperson said in a statement. 

Ola Electric: Q4 operational highlights

Ola Electric saw a significant decline in demand in FY26 due to a widespread public outcry over its service mishaps. “It was the largest constraint on demand and brand trust through FY26”, Ola Electric acknowledged in a statement. 

Ola Electric said that its service operations have now materially stabilized. The company said that its average service TAT has reduced by 88%, from around 9 days in October 2025 to nearly 1 day in March 2026.  

Ola Electric said that its service backlog has reduced from 14 days to 6 days, while the same-day closures improved to nearly 87%, and parts pendency reduced by 69% from October to April. 

In April, Ola Electric’s registrations rose to 12,166 units, up 20% month-on-month. The company said its electric bike, the Roadster, is becoming its second automotive growth engine. Bikes contributed 15% of its April gross orders.