Ola Electric Mobility Ltd.'s net loss for the third quarter of FY26 narrowed year-on-year, as per an exchange filing on Friday.
The EV major registered a net loss of Rs 487 crore against a loss of Rs 564 crore in the year-ago period.
Revenue sharply declined 55% to Rs 470 crore from Rs 1,045 crore in the corresponding period of last fiscal.
Earnings before interest, taxes, depreciation and amortisation loss came in at Rs 271 crore against Rs 460 crore in the year-ago period.
As per the company's press release, its consolidated gross margin expanded 15.7 percentage point YoY and 3.4 percentage points QoQ to 34.3%.
The margin expansion aided by the company's vertically integrated manufacturing model and improved unit economics driven by the Gen 3 platform. Moreover, the company also achieved PLI certification for the entire Gen 3 portfolio.
Commenting on the performance, Ola Electric Co-founder and CEO Bhavish Aggarwal said, “Q3 FY26 marks a structural reset for Ola Electric. As EV penetration growth moderated and service execution required strengthening, we made a deliberate choice - fix the fundamentals, not chase short-term volume."
Q3 FY26 marks a structural reset for Ola Electric.
— Bhavish Aggarwal (@bhash) February 13, 2026
As EV penetration growth moderated and service execution required strengthening, we made a deliberate choice - fix the fundamentals, not chase short-term volume. We realigned our retail footprint, strengthened our cost… pic.twitter.com/ZeMyPynaQ0
An Ola Electric spokesperson highlighted that with service metrics stabilising and the company's Gigafactory transitioning into commercial scale deployment, it is positioned to enter the next phase of growth with a better operating leverage.
Ola Electric Q3FY26 Highlights (Consolidated, YoY)
- Net loss at Rs 487 crore versus loss of Rs 564 crore.
- Revenue down 55% at Rs 470 crore versus Rs 1,045 crore.
- Ebitda loss at Rs 271 crore versus Rs 460 crore loss.
Share Price
Ola Electric's stock settled 0.16% lower at Rs 30.92 apiece on the NSE ahead of the financial results. This compares to a 1.30% decline in the Nifty index on Friday. In the last 12 months, the share price has slumped 51.90%.
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