Ola Electric Q1: Loss Narrows 22% YoY To ₹336 Cr, Revenue Plunges 45%

EV major Ola Electric managed to trim its net loss for the June quarter (Q1 FY27) by 22% to ₹336 Cr from ₹428 Cr in the year-ago quarter. On a sequential basis, loss declined 33% from ₹500 Cr. 

Operating revenue declined 45% to ₹455 Cr from ₹828 Cr in Q1 FY26. However, it rose 72% from ₹265 Cr on a QoQ basis. 

Including other income of ₹29 Cr, total income for the quarter stood at ₹484 Cr. 

Meanwhile, total expenses declined 42% YoY to ₹620 Cr.

In its shareholder letter, Ola Electric said the June quarter marked the first full quarter after its operational reset in FY26, with registrations rising 97% QoQ compared to a 17% growth in the broader electric two-wheeler market. It said its market share improved to 8.4% in Q1 FY27 from 5.1% in Q4 FY26.

The Bhavish Aggarwal-led company said it continued to reduce costs during the quarter, with consolidated operating expenses falling 22% QoQ to ₹333 Cr. It added that it remains focused on achieving a steady-state operating cost base of about ₹300 Cr per quarter as it works towards operating breakeven.  

Looking ahead, Ola Electric said it will expand its dealer-led distribution network to deepen its presence in non-metro markets. The company said it received more than 1,200 expressions of interest from prospective dealer partners within 24 hours of announcing the initiative. 

(The story will be updated shortly)

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