Key Highlights
- Revenue from operations declined 45.0% YoY to ₹455 crore from ₹828 crore.
- Total income fell 46.0% YoY to ₹484 crore from ₹896 crore.
- Consolidated net loss narrowed 21.5% YoY to ₹336 crore from ₹428 crore.
- Loss before tax improved to ₹336 crore from ₹428 crore in Q1 FY26.
- Total expenses declined to ₹620 crore from ₹1,065 crore.
- Employee benefits expenses reduced to ₹49 crore from ₹89 crore.
- Other expenses fell to ₹255 crore from ₹362 crore.
- Revenue from operations rose 71.7% QoQ from ₹265 crore to ₹455 crore.
- IPO proceeds utilised stood at ₹4,971 crore out of ₹5,275 crore as of June 30, 2026.
- Board approved the appointment of TRC Corporate Consulting Private Limited as Internal Auditor for FY27.
Ola Electric Mobility Limited reported its financial results for the first quarter of FY27, posting lower revenue amid continued pressure on vehicle sales. However, the electric vehicle maker reduced its consolidated net loss compared with the corresponding quarter last year as it continued its cost optimization initiatives.
For the quarter ended June 30, 2026, the company reported consolidated revenue from operations of ₹455 crore, down 45% year-on-year from ₹828 crore in the same quarter of the previous financial year. Total income declined to ₹484 crore from ₹896 crore a year earlier.
The company’s consolidated net loss narrowed to ₹336 crore during the quarter, compared with a loss of ₹428 crore in Q1 FY26, reflecting an improvement of around 21.5% year-on-year. Loss before tax also improved to ₹336 crore from ₹428 crore in the year-ago period.
Total expenses stood at ₹620 crore during the quarter, significantly lower than ₹1,065 crore reported in Q1 FY26. Other expenses declined to ₹255 crore from ₹362 crore, while employee benefits expenses reduced to ₹49 crore from ₹89 crore. Finance costs also eased to ₹73 crore from ₹94 crore.
The automotive business remained the primary revenue contributor, generating ₹455 crore in revenue from operations, while the company’s cell business contributed ₹5 crore.
On a sequential basis, revenue from operations increased from ₹265 crore reported in the March 2026 quarter to ₹455 crore in Q1 FY27. However, the consolidated loss before tax improved from ₹496 crore in the previous quarter to ₹336 crore.
Alongside its financial results, the Board of Directors approved the appointment of TRC Corporate Consulting Private Limited as the Internal Auditor for the financial year 2026-27.
The company also updated the utilization status of its IPO proceeds. As of June 30, 2026, Ola Electric had utilized ₹4,971 crore out of the total net IPO proceeds of ₹5,275 crore, leaving an unutilized balance of ₹304 crore.
Regarding regulatory developments, the company stated that it had received a SEBI show cause notice related to certain past disclosures and announcements. Ola Electric said it intends to pursue a settlement without admission of liability and expects the matter to be concluded through the settlement process.
