Results · Mobility & Logistics

Ola Electric Q1 revenue drops 45%, loss narrows

By Startup Enthusiast · 7 August 2026

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Q1 FY27 revenue fell 45% year-on-year to Rs 455 crore, while net loss narrowed 22% to Rs 336 crore

The company raised Rs 780 crore via a share sale and plans to launch new battery products in August 2026

Market share rose to 8.4% from 5.1% in the prior quarter, but analysts remain cautious on the stock

Ola Electric reported Q1 FY27 revenue from operations of Rs 455 crore, down 45% year-on-year from Rs 828 crore.
Net loss for the quarter was Rs 336 crore, narrowing 22% from Rs 428 crore a year earlier.
Total income was Rs 484 crore, including Rs 29 crore of other income.
Total expenses fell 42% year-on-year to Rs 620 crore.
Automotive segment revenue was Rs 455 crore, while the cell business contributed Rs 5 crore.
EV registrations in Q1 FY27 were 43,908, down 25% year-on-year.
Orders rose 96% quarter-on-quarter to 44,071 units, and deliveries rose 94% to 39,192 units.
The company reversed a Rs 57 crore liquidated damages provision, pending approval from the Ministry of Heavy Industries.

Ola Electric's market share improved to 8.4% from 5.1% in the prior quarter, but it still trails competitors like Ather Energy.
Analysts at Kotak and Citi have 'Sell' ratings, while Goldman Sachs is neutral, reflecting mixed sentiment on the stock.
The company is diversifying into battery energy storage, signing a deal with Axis Energy for up to 20 GWh of BESS deployment.

Ola Electric designs and sells electric scooters, motorcycles, and battery energy storage systems (BESS).
Its product lineup includes the Ola S1 series, Roadster series, Ola Shakti, Ola Gig, and BESS solutions.
It offers EMI options and AI-powered service support to customers.
Prices for its scooters start at Rs 39,999 for the Ola Gig and go up to Rs 1,99,999 for the Roadster Pro.
The company has an installed base of over 1 million customers.
It is building a 6 GWh gigafactory for battery cells, expected to be operational by September 2026.

Ola Electric plans to launch the Ola Mahashakti platform on August 15, 2026, featuring LFP cells.
It aims to achieve after-sales service revenue of Rs 400-500 crore by FY28, up from Rs 130 crore in FY26.
The 6 GWh gigafactory is scheduled to become operational by September 2026.

Kotak (analyst) — Brokerage firm with a 'Sell' rating on Ola Electric.
Citi (analyst) — Global bank with a 'Sell' rating on Ola Electric.
Goldman Sachs (analyst) — Global investment bank with a 'Neutral' rating on Ola Electric.