Ola Electric Q1 Results: Revenue halves, losses widen to Rs 428 crore

On Monday, July 14, the electric two-wheeler manufacturer ola Electric reported a bigger net loss of ₹428 crore for the first quarter of FY26, compared to ₹347 crore in the same period last year.

However, the loss was lower than the ₹870 crore reported in the previous quarter (Q4 FY25), showing some improvement quarter-on-quarter.

However, total expenses fell 42% to ₹1,065 crore, mainly because raw material costs went down by 66% to ₹441 crore.

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The company told shareholders it is moving from rapid growth to a more focused strategy aimed at improving profits.

“We’ve made a pivot to our strategy over the last two quarters from aggressive penetration to balanced profitable growth,” the company said, noting that the current focus is on consolidating operations, improving margins, and laying the groundwork for future expansion.

Ola Electric said it is now focused on expanding its sales network, offering more products, and reaching a new group of electric vehicle (EV) buyers.

For FY26, the company expects to sell between 3.25 lakh and 3.75 lakh vehicles, with revenue between ₹4,200 and ₹4,700 crore. In FY25, its revenue was ₹4,514 crore — about 10% lower than the previous year.

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