New Delhi: Ola Electric Q2 net loss ₹418 crore signals a tough quarter for Bhavish Aggarwal’s EV company as revenue plunged 43% year-on-year in the July–September period (Q2 FY26).
The company’s exchange filing showed that revenue from operations dropped to ₹690 crore in Q2 FY26 from ₹1,214 crore in the same period last year. Despite the dip, Ola Electric reduced its operating EBITDA loss to ₹203 crore from ₹379 crore a year earlier, highlighting improved cost control.
The auto segment reported a 0.3% EBITDA margin by cutting operating expenses from ₹308 crore to ₹258 crore quarter-on-quarter. Following the announcement, Ola Electric shares fell 1.32% to ₹49.4 on the NSE during intra-day trade.
Ola Electric said it expects lower volumes than its Q1 guidance as it prioritizes margin discipline in an intensely competitive market. The company aims to deliver about 100,000 units in H2 FY26, supported by a new business vertical launching in Q4.
October sales reflected the slowdown Ola Electric sold 16,034 e-scooters, down 61% from 41,843 units in the same month last year, according to government data from the Vahan portal.
Bhavish Aggarwal emphasized that Ola Electric Q2 net loss ₹418 crore represents a strategic phase where the company focuses on sustainable profitability rather than aggressive volume growth. For FY26, Ola Electric projects consolidated revenue between ₹3,000 crore and ₹3,200 crore.
The EV maker plans to continue improving quarter-on-quarter profitability. It expects to close Q4 with a 40% gross margin and an EBITDA margin of around 5%.
As competition intensifies in India’s electric vehicle market, Ola Electric aims to balance expansion with financial stability. The company’s renewed focus on cost efficiency, innovation, and disciplined growth marks its next step toward long-term sustainability in the evolving EV ecosystem.
–IANS
