Mumbai, February 13: Electric two-wheeler manufacturer Ola Electric released its financial results for the third quarter of the fiscal year 2026 on Friday. The company’s operational revenue for the October-December period fell by 55.02% year-on-year, amounting to ₹470 crore, compared to ₹1,045 crore during the same period last year.
The total income for the company also saw a significant decline, dropping 56.99% year-on-year to ₹504 crore, down from ₹1,172 crore in the previous year’s corresponding quarter.
Ola Electric continues to face losses, reporting a loss of ₹487 crore for the December quarter of fiscal year 2026, an improvement from a loss of ₹564 crore in the same period last year. However, the quarterly loss has increased compared to ₹418 crore in the September quarter.
Despite the losses, the company managed to reduce its expenses, which fell by 50.76% to ₹741 crore during the October-December period, down from ₹1,505 crore in the same quarter last year. This reduction in expenses is attributed to a decrease in material costs, which were ₹223 crore in the December quarter of fiscal year 2026, a 74% drop from ₹867 crore in the same period of the previous fiscal year. This indicates a decline in the company’s production levels.
Ola Electric’s shares closed at ₹30.9 on Friday, down 0.26%, hitting a new 52-week low of ₹30.41 during the day. Over the past year, the stock has seen a negative return of 51.90%, and it has declined by 17.59% since the beginning of this year.
Facing challenges, Ola Electric announced layoffs last month, stating that approximately 5% of its workforce would be affected as part of ongoing structural changes. The company emphasized its focus on providing a better customer experience and creating a streamlined organization for long-term, profitable growth.
According to Ola Electric, it is concentrating on stabilizing its business and advancing early gains through hyper-service and service-based execution, with over 80% of service requests being resolved on the same day across the country.
Deependra Singh Chundawat is a Senior Sub-Editor at Udaipur Kiran, specializing in a wide range of technology topics including mobile phones, applications, gaming, PCs, and wearables. Along with covering the latest tech news, he also creates engaging web stories. Passionate about emerging technologies, he stays up to date with the newest trends and enjoys reading and writing about the latest mobile launches and digital innovations.
