Ola Electric, a leading electric two-wheeler company, disclosed a 55.02% decrease in revenue from operations in Q3 FY26, amounting to Rs 470 crore, down from Rs 1,045 crore in the corresponding period last fiscal. The company’s total revenue also plummeted by 56.99% year-on-year to Rs 504 crore in the December quarter, compared to Rs 1,172 crore a year earlier.
Despite efforts, Ola Electric faced mounting losses, with a reported loss of Rs 487 crore in the December quarter of FY26, in contrast to Rs 564 crore in the same period the previous year. The company’s losses escalated sequentially, with a loss of Rs 418 crore in the September quarter.
In a positive development, the company’s expenses decreased in the December quarter of FY26. Total expenses dropped by 50.76% to Rs 741 crore in the October-December period, down from Rs 1,505 crore in the same period the prior year. This reduction was primarily attributed to lower material costs used in production, which decreased by 74% to Rs 223 crore in the December quarter of FY26.
Ola Electric’s shares closed at Rs 30.9 on Friday, marking a 0.26% decline. The stock hit a new 52-week low of Rs 30.41 during the day and has seen a negative return of 51.90% over the past year. Since the start of the year, the stock has fallen by 17.59%.
Facing challenges, Ola Electric recently implemented layoffs affecting approximately 5% of its workforce as part of an ongoing structural transformation. The company emphasized its commitment to enhancing customer experience and establishing an efficient organization for sustainable, profitable growth.
