Ola Electric Reports Rs 418 Crore Net Loss in Q2, Revenue Drops 43%

New Delhi — Ola Electric Mobility Ltd, led by Bhavish Aggarwal, reported a consolidated net loss of ?418 crore for the July–September quarter (Q2 FY26), according to the company’s exchange filing on Thursday. The loss came amid a sharp decline in revenue.

Revenue from operations fell 43% year-on-year to ?690 crore, down from ?1,214 crore in Q2 FY25, reflecting a significant slowdown in sales during the quarter.

Despite the revenue drop, the company managed to reduce its operating losses. Ola Electric’s operating EBITDA loss narrowed to ?203 crore, compared to ?379 crore a year earlier, suggesting improved cost efficiency.

The company’s auto segment delivered a modest EBITDA margin of 0.3%, aided by a reduction in auto operating expenses from ?308 crore to ?258 crore on a quarterly basis.

Following the announcement, Ola Electric’s stock fell 1.32% in intra-day trade on the NSE to ?49.4, down 66 paise from the previous close.

“For the Auto segment, we expect lower volumes than the Q1 guidance as we continue to focus on margin and cash discipline in a hyper-competitive market,” the company stated in its filing.

Looking ahead, Ola Electric expects to deliver around 100,000 units in the second half of FY26. The company added that this moderation in unit volumes will be supported by new business verticals launching in Q4.

According to government data from the Vahan portal, Ola Electric sold 16,034 e-scooters in October, marking a 61% decline from 41,843 units sold in the same month last year.

“For the full fiscal year, we now expect consolidated revenue of around ?3,000–?3,200 crore, reflecting a balanced focus on profitability over volumes,” the company said.

Ola Electric further stated that it expects continued quarter-on-quarter improvement in auto segment profitability and aims to close Q4 FY26 with auto gross margins around 40% and segment EBITDA of about 5%.

With inputs from IANS