- Ola Electric's Q3FY26 revenue fell 55% to Rs 470 crore from Rs 1,045 crore year-on-year
- The company reported a net loss of Rs 487 crore in Q3FY26, improving from Rs 564 crore loss prior year
- Shares dropped over 5% intraday to Rs 28.07, down 54% in the past 12 months
Once seen as the torchbearer of India's electric two‑wheeler revolution, Ola Electric is now battling a string of setbacks from tumbling sales to eroding market share. Shares of Ola Electric Mobility fell over 5% with the stock trading at Rs 28.07 apiece intraday on Tuesday.
This comes on the back of brokerage firm Citi striking a cautious tone on Ola Electric, pointing to sustained challenges that continue to weigh on the company's growth trajectory, particularly in terms of vehicle volumes.
According to the brokerage, the penetration of electric vehicles (EVs) in India's two‑wheeler market has expanded at a much slower pace than earlier anticipated. This softer‑than‑expected industry transition has put pressure on Ola Electric's sales, which have fallen sharply from Rs 1,644 crore in July 2024 to Rs 470 crore in the December quarter of FY26.
The Q3 performance added to the strain, coming in below expectations due to negative operating leverage. However, Citi noted that improving gross margin trends and the prospect of stronger operating leverage could support an eventual recovery in Ola's EBITDA.
Ola Electric reported a net loss of Rs 487 crore in Q3FY26 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.
Ola Share Price Today
Photo Credit: (Photo: NDTV Profit)
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.
Ola Electric Share Price Today
Ola Share Price Today
Photo Credit: (Photo: NDTV Profit)
The scrip fell as much 5.10% to Rs 28.07 apiece intraday on Tuesday. This compares to a 0.17% growth in the NSE Nifty 50 Index. It has fallen 54.05% in the last 12 months. The relative strength index was at 43.45
Out of eight analysts tracking the company, one maintains a 'buy' rating, one recommends a 'hold,' and six suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target of Rs 30.67 implies an upside of 11.8%.
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