In a stark revelation, Ola Electric disclosed its third-quarter FY26 earnings, highlighting a severe downturn. Revenue from operations nosedived 55% to ₹470 crore for the quarter ended December, compared to ₹1,045 crore a year ago. Overall revenue fell even more precipitously by 57% to ₹504 crore.
Persistent losses continue to plague the EV maker, with a ₹487 crore deficit in Q3, up from ₹418 crore in Q2 but down slightly from last year’s ₹564 crore. On a brighter note, total expenses halved to ₹741 crore, driven by slashing material costs by 74% to ₹223 crore – a clear signal of reduced output volumes.
The market reacted swiftly, with shares dipping to a 52-week low of ₹30.41 before closing at ₹30.9, down 0.26%. Over the last year, the stock has lost over half its value, eroding 51.9%, and is down 17.59% since January. Ola’s recent moves include trimming 5% of staff to forge a leaner organization focused on long-term viability.
Leadership insists on ramping up service efficiency, boasting same-day resolution for 80%+ of requests via HyperService. As Ola navigates production cuts, layoffs, and investor skepticism, the road ahead demands bold strategies to reclaim momentum in the burgeoning electric two-wheeler sector.