Ola Electric narrows loss to Rs 336 Cr in Q1, revenue falls 45%
The Bhavish Aggarwal-led company said its registrations grew 97% quarter-on-quarter, outpacing the broader electric two-wheeler (E2W) market, which grew 17%.
Ola Electric Mobility narrowed its consolidated loss to Rs 336 crore in Q1 FY27, from Rs 428 crore a year earlier and Rs 500 crore in the previous quarter.
The EV company's revenue from operations declined 45% to Rs 455 crore in Q1 FY27 as compared to Rs 828 crore a year ago.
The Bhavish Aggarwal-led company said its registrations grew 97% quarter-on-quarter, outpacing the broader electric two-wheeler (E2W) market, which grew 17%.
“Our market share increased from 5.1% in Q4 FY26 to 8.4% in Q1 FY27, while Auto revenue rose 72% quarter-on-quarter,” the company said in a statement.
Ola Electric also reported an EBITDA loss of Rs 165 crore, compared to Rs 237 crore a year earlier.
“Despite a difficult commodity environment, Auto gross margin sustained at 30.5%, sustaining our industry-leading gross margins,” the company added.
The company also said AI is now embedded across sales, registration, fulfilment, payments, reconciliation and warranty claims, as well as in cell research and development.
“The conflict in West Asia contributed to volatility in fuel availability and prices, sharpening the cost-of-ownership advantage of EVs. Against this backdrop, India’s E2W penetration crossed 10% for the first time in June, a significant milestone in the category’s journey towards the mainstream,” it said.
Reflecting on its next phase, the company said that it will deepen execution, continue expanding market share, increase productivity through technology and translate higher scale into stronger operating leverage.
“Our focus is not growth at any cost, but durable growth—built on discipline, technology and an EV market whose structural foundations continue to strengthen.”
On Thursday, Ola Electric said it is opening its sales and service network to dealer partners across India. This marks a structural shift in the company's go-to-market approach, five years after it launched its first electric scooters, Ola Electric said in a statement.
(Disclaimer: Shradha Sharma, Founder and CEO of YourStory, is an independent director at Ola Electric.)
Edited by Megha Reddy