Ola Electric Q4 Results: Loss Narrows To Rs 500 Crore, Revenue Falls 57% To Rs 265 Crore
Last Updated:
Ola Electric narrows Q4 net loss to Rs 500 crore but revenue halves, posts first operating cash flow positive quarter, boosts gross margins and plans QIP to strengthen liquidity
Ola Electric Q4 Results.
Ola Electric Mobility on Tuesday reported a consolidated net loss of Rs 500 crore for the quarter ended March 31, 2026, compared with a loss of Rs 870 crore in the corresponding quarter last year, marking an improvement of 42.5 per cent year-on-year.
However, on a sequential basis, the company’s loss widened 2.7 per cent from Rs 487 crore reported in the December quarter.
Revenue from operations during the March quarter declined sharply by 56.6 per cent year-on-year to Rs 265 crore from Rs 611 crore a year ago. Sequentially, revenue fell 43.6 per cent from Rs 470 crore in Q3 FY26.
Total income during the quarter also dropped 58.2 per cent to Rs 304 crore, compared with Rs 728 crore in the year-ago period.
The Bengaluru-based electric two-wheeler maker managed to reduce its overall spending significantly during the quarter. Total expenses stood at Rs 546 crore, down 58.2 per cent from Rs 1,306 crore in the corresponding quarter last year and 26.3 per cent lower than Rs 741 crore in the December quarter.
Employee benefit expenses came in at Rs 58 crore, while other expenses stood at Rs 325 crore during the reporting quarter.
For the full financial year FY26, Ola Electric reported revenue from operations of Rs 2,253 crore, down 50.1 per cent from Rs 4,514 crore in FY25. Annual net loss narrowed 19.5 per cent to Rs 1,833 crore from Rs 2,276 crore a year ago.
The company’s total expenses for FY26 fell to Rs 3,245 crore from Rs 6,253 crore in the previous financial year.
Ola Electric said the March quarter marked its first operating cash-flow positive quarter. Consolidated cash flow from operations turned positive at Rs 91 crore, helped by production-linked incentive (PLI) inflows, better gross margins and tighter working capital management. Free cash flow, however, remained negative at Rs 131 crore.
The company also reported a sharp expansion in consolidated gross margin to 38.5 per cent in Q4 FY26 from 13.7 per cent a year ago and 34.3 per cent in the December quarter. According to the company, the improvement was driven by vertical integration, maturity of its Gen 3 platform and stricter cost controls.
Ola Electric further highlighted improvements in its after-sales service operations, which had come under criticism over the past year. The company said average service turnaround time reduced 88 per cent between October 2025 and March 2026, while service backlog days declined from 14 days to six days.
Warranty costs also fell sharply to Rs 59 crore in FY26 from Rs 555 crore in FY25.
The company said April registrations rose 20 per cent month-on-month to 12,166 units despite the broader electric two-wheeler industry witnessing a decline of more than 22 per cent during the month.
Ola Electric added that it aims to rebuild its national market share to 15-20 per cent over the next six months and expects Q1 FY27 orders to range between 40,000 and 45,000 units, nearly double the levels seen in the March quarter.
The company also said it continues to evaluate its liquidity position and is pursuing additional fundraising through a proposed qualified institutional placement (QIP).
Read More
