Key Highlights
- Consolidated revenue from operations stood at ₹690 crore in Q2 FY26
- Net loss reported at ₹418 crore for the quarter
- Underlying auto cash flow from operations was positive at ₹15 crore
- Consolidated operating expenses reduced to ₹416 crore
- Company targets FY26 consolidated revenue between ₹3,000 to ₹3,200 crore
- Gigafactory capacity to scale from 2.5 GWh to 5.9 GWh by March 2026
Ola Electric reported consolidated revenue of ₹690 crore for Q2 FY26, compared to ₹828 crore in Q1 FY26. Net loss came in at ₹418 crore for the quarter, slightly improved from ₹428 crore in the previous quarter. The company reported other income at ₹66 crore during the period while total consolidated income stood at ₹756 crore.
Operating expenses reduced meaningfully to ₹416 crore in Q2 FY26 from ₹451 crore in Q1 FY26, reflecting continued cost tightening and operational efficiencies. Consolidated gross profit for the quarter was ₹213 crore while depreciation, amortisation and finance cost combined stood at ₹281 crore.
In the auto segment, revenue was ₹688 crore for the quarter, while cell segment revenue contributed ₹4 crore. Total automotive gross profit was ₹211 crore during the quarter. Other income from auto came to ₹49 crore while the cell segment posted ₹23 crore other income contribution.
Underlying auto cash flow from operations turned positive at ₹15 crore in Q2 FY26, although reported CFO was negative due to festive inventory build-up of around ₹55 crore. Consolidated CFO for the quarter stood at negative ₹200 crore and consolidated free cash flow was negative ₹350 crore for Q2 FY26.
The company confirmed that its Gigafactory currently has 2.5 GWh capacity installed and is on track to expand to 5.9 GWh capacity by March 2026. The management has guided consolidated revenue between ₹3,000 to ₹3,200 crore for FY26 with auto margin improvement expected through increased localisation, new product mix and lower opex deployment.