Ola Electric Q4 results: Net loss narrows to ₹500 crore, revenue falls 57%

Ola Electric Q4 results: Electric two-wheeler maker Ola Electric Mobility on Wednesday narrowed in its consolidated net loss to ₹500 crore in the March quarter of FY26.

The consolidated net loss was ₹870 crore in the quarter ended on March 31, 2025, a regulatory filing showed.

Revenue from operations fell 56.62% to ₹265 crore in the reporting quarter from ₹611 crore recorded in the same period a year ago.

The company reported an EBITDA (earnings before interest, taxes, depreciation, and amortisation) loss of ₹82.2 crore for the quarter, compared to an EBITDA profit of ₹6.5 crore a year ago.

In an exchange filing, the firm said that Q4 FY26 was a low-volume quarter, but it also reflected the reset working.

Consolidated gross margin reached 38.5%, operating expenses decreased materially through the year, and cash burn reduced significantly, service stabilised, and sales recovery began, while the cell business moved from validation to scale, Ola Electric said.

Ola Electric, in a press release, stated that it delivered its first operating cash flow positive quarter in the January-March quarter of FY26, with consolidated CFO of ₹91 crore backed by PLI inflows, stronger gross margins, lower opex, and rigid working capital discipline.

On outlook for Q1 FY27, Ola Electric Mobility said that it expects consolidated revenue in the range of ₹500 to ₹550 crore.

"Ola Electric enters FY27 focused on scaling with discipline. The company’s priorities are to recover volumes, sustain service consistency, hold margin leadership, reduce opex, ramp the Gigafactory, transition the auto portfolio deeper into its own cells, and scale Shakti and Mahashakti. Based on current trends, Ola Electric expects Q1 FY27 orders to double Q-o-Q to nearly 45,000 units," it said.

Commenting on earnings, an Ola Electric spokesperson said, “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."

"Q4 showed the reset working: gross margin reached 38.5%, operating cash flow turned positive for the first time, service materially stabilised, and sales recovery began. We enter FY27 with a stronger operating foundation, a sharper cost structure, and our cell platform moving from validation to scale across mobility and energy storage," the spokesperson said.