New Delhi
Ola Electric, led by Bhavish Aggarwal, reported a net loss of Rs 428 crore in Q1 FY26, a 23% increase from Rs 347 crore in the same period last year. Revenue from operations dropped sharply by nearly 50%, falling to Rs 828 crore from Rs 1,644 crore in Q1 FY25. The company’s e-scooter deliveries also declined year-on-year, down to 68,192 units from 1,25,198.
EBITDA loss for the quarter stood at Rs 237 crore, higher than the Rs 205 crore loss reported a year ago. Despite the weak numbers, Ola Electric expects to sell between 3.25 lakh and 3.75 lakh vehicles in FY26, targeting revenue of Rs 4,200 to Rs 4,700 crore.
In a letter to shareholders, the company said it aims to strengthen operations, improve margins, and gear up for future growth through an expanded product line. It also mentioned readiness with in-house alternatives for critical components like rare earth magnets and ABS systems.
Ola Electric's share price traded between Rs 40 and Rs 42, staying close to its 52-week low of Rs 41.82 and far below the 52-week high of Rs 157.4. The stock has fallen over 51% in the past six months and nearly 54% in the past year.
In Q4 FY25, the company had posted a much higher net loss of Rs 870 crore, more than double the Rs 416 crore loss in the same quarter last year, with revenue falling 62% to Rs 611 crore.