Ola Electric Q1 FY27: Losses Narrow, Market Share Enlarges

Ola Electric reported enhanced financial performance in the first quarter of FY27, even as revenue dropped sharply compared to last year. The company posted a combined net loss of ₹336 crore for the quarter ending June, down from ₹428 crore in the same period a year earlier. Revenue from operations fell 45% year-on-year to ₹455 crore, while EBITDA losses reduced to ₹165 crore from ₹237 crore. Other income also deteriorated to ₹29 crore from ₹68 crore.

This quarter marked the first full reporting period after Ola Electric’s operational restructuring in FY26. The company highlighted that, despite year-on-year weakening, it achieved strong sequential growth. Registrations surged 97% quarter-on-quarter, far outpacing the broader electric two-wheeler industry’s 17% growth. As a result, Ola’s market share rose to 8.4% from 5.1% in the previous quarter. Automotive revenue also grew 72% consecutively, driven by higher volumes.

Orders approximately doubled to 44,000 units, while deliveries climbed to 39,200 units, up from 20,256 in the prior quarter. This increase pushed automotive revenue to ₹455 crore, with gross profit improving to ₹139 crore. The company credited these gains to stronger implementation, wider use of artificial intelligence in sales and fulfilment, and a leaner operating structure designed to enhance scalability.

Cost optimization remained a key focus. Merged operating expenses fell 22% quarter-on-quarter to ₹333 crore, with management echoing its goal of stabilizing costs closer to ₹300 crore per quarter. Ola emphasized that these proficiencies were achieved while volumes increased and profitability metrics improved.

Looking ahead, the company plans to continue escalating its market presence, enhance productivity through technology, and leverage economies of scale to move closer to operating profitability. Ola Electric sees the expanding embrace of electric mobility in India as a major opportunity to reinforce its position in the sector.