Electric two-wheeler manufacturer Ola Electric Mobility posted its Q3 results, reporting a reduction in its loss. However, what stood out was a sharp decline in its revenue on the back of slow growth in the EV segment.
Ola Electric: Net loss reduces, revenue falls 55%
Ola Electric Mobility posted a consolidated net loss of Rs 487 crore for Q3FY26, marking a reduction of 13% from the loss of Rs 564 it had posted for Q3FY25.
The company’s consolidated revenue from operations (net sales) also witnessed a sharp fall of 55% to Rs 470 crore, against Rs 1,045 crore posted for Q3FY25.
On a segment-wise basis, revenue from the automotive segment stood at Rs 467 crore, down 55% on a YoY basis from Rs 1,045 crore reported in this segment for Q3FY25.
Meanwhile, revenue from the cell segment saw a rise, as it stood at Rs 9 crore, up from Rs 3 crore reported in the same quarter last year.
Ola Electric’s adjusted operating EBITDA losses fell to Rs 323 crore against Rs 494 crore reported for Q3FY25.
The company’s total operating expenses also witnessed a reduction, declining to Rs 432 crore compared to Rs 654 crore reported in the year-ago quarter.
Commenting on its financials, the company said in its investor presentation, “As EV penetration growth has slowed and our service execution has required strengthening, we chose to realign our retail footprint, cost structure, and operating model to a sustainable steady state by fixing the fundamentals and not optimising for short-term volume.”
It added, “The result is a structurally lower volume breakeven business with significantly improved operating leverage.”
Commenting on the third quarter’s performance, the company in its investors presentation said, “Q3 FY26 marks a structural reset for Ola Electric. We used this period to strengthen the foundations of the business restoring service execution, resetting our cost structure, deepening vertical integration, and advancing our Gigafactory ramp. “
It added that this resulted in a leaner operating model, despite the Gigafactory ramp up in this period and the deep vertical integration of our business model, with materially lower breakeven, industry-leading gross margins, and scalable infrastructure already in place.
“With service metrics stabilizing, structural opex reduction underway, and internal cell integration beginning to flow into products, we are positioned to enter the next phase of growth with significantly improved operating leverage. The heavy build phase is behind us. The focus now is disciplined execution, scaling into the capacity created, and delivering sustainable long-term value.”
Ola Electric: Share Price
The share price of Ola Electric closed flat today at Rs 30.92 per share. Over the past one year, the company’s stock has declined by nearly 52%.