Ola Electric’s Consolidated Loss Narrows to 362 Crore Rupees in Second Quarter
Key Facts
Ola Electric’s consolidated loss narrowed to 362 crore rupees in the quarter ended September 2026, compared with a loss of 418 crore rupees in the same period a year earlier, according to data cited by ICICI Direct. Sequentially, the loss increased from 336 crore rupees in the quarter ended June 2026. The results therefore combined a year-on-year improvement in the loss with a deterioration from the previous quarter. On another operating measure, the EBITDA loss widened to 218 crore rupees, from 203 crore rupees a year earlier, according to NDTV Profit. These figures highlight continued operating pressure despite the narrower annual loss.
Vehicle registrations totalled 41,651 units in the second quarter, compared with 51,775 units in the corresponding quarter a year earlier, according to registration data reported by Reuters via MarketScreener. This means the number of registered units fell from its year-earlier level, alongside a widening in the annual EBITDA loss. The decline in registrations provides context for operating performance during the period, alongside the quarter-on-quarter comparison in consolidated losses. The company said demand was no longer the constraint on its activity; supply was. It said it was working with suppliers to increase capacity and output month by month.
Expenses fell 28.4% to 6.39 billion rupees in the second quarter of fiscal 2026-27, according to Reuters via MarketScreener. The agency said workforce restructuring, lower warranty costs and working capital management contributed to the company’s efforts to improve profitability. The expense reduction came in the same period that registrations declined from a year earlier, while the EBITDA loss remained above its year-earlier level. The results therefore show two parallel trends: pressure on registered unit volumes and cost reductions as part of efforts to improve performance. The impact of these measures on operating profitability remains to be seen in coming quarters.
The company said gross margin could decline in the third and fourth quarters as its network of agent stores expands. At the same time, it expected operating margin to improve significantly over the same period, according to Reuters via MarketScreener. This guidance links the expansion of the agent network with a possible decline in gross margin, while forecasting improvement in the operating metric. The company thus put both margin trends under review for the second half of the fiscal year. The guidance comes amid lower expenses and a wider EBITDA loss compared with the same period a year earlier.
Ola Electric published its second-quarter fiscal 2026-27 shareholder letter and released the investor presentation for its results call with analysts and investors, dated November 12, 2026. The presentation provides updates on the company’s disclosures about the period’s results and its plans, including the expansion of its agent-store network. Among the results, the consolidated loss narrowed year on year but increased from the previous quarter. The EBITDA loss also widened from its year-earlier level, while annual vehicle registrations declined. The company’s margin outlook for the third and fourth quarters and its guidance on supply provide further milestones for tracking the performance of its operational turnaround plan.