Ola Electric Mobility on Friday narrowed its consolidated profit after tax loss during the third quarter of the financial year 2026 to Rs 487 crore from Rs 564 crore, even as revenue fell 55% year-on-year due to lower vehicle deliveries.
Revenue from operations declined to Rs 470 crore in Q3FY26 from Rs 1,045 crore a year earlier and Rs 690 crore in the preceding quarter.
Total electric two-wheeler deliveries fell to 32,680 units during the quarter, compared with 84,029 units a year earlier and 52,666 units in the September quarter.
The automotive segment reported revenue of Rs 467 crore and a net loss of Rs 289 crore, while the cell segment posted revenue of Rs 9 crore and a net loss of Rs 89 crore.
Adjusted operating EBITDA loss stood at Rs 323 crore in Q3FY26, compared with a loss of Rs 494 crore a year earlier and Rs 258 crore in the preceding quarter. Adjusted operating EBITDA margin stood at negative 68.7% during the quarter, compared with negative 47.3% in the year-ago period.
However, the company reported a consolidated gross margin of 34.3%, up from 18.6% a year earlier and 30.9% in the previous quarter. Gross profit stood at Rs 161 crore.
Total operating expenses were Rs 432 crore during the quarter, down from Rs 654 crore a year earlier.
Cash and cash equivalents stood at Rs 1,991 crore at the end of the quarter, compared with Rs 2,903 crore at the end of Q2FY26.
“With service metrics stabilising and our Gigafactory transitioning into commercial-scale deployment, we are positioned to enter the next phase of growth with significantly improved operating leverage,” the company said.