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Ola Electric Mobility reported a narrowed consolidated net loss of 487 crore for the third quarter of FY26, compared with 564 crore in the same period last year. However, revenue from operations declined 55% year-on-year to 470 crore, primarily due to lower vehicle deliveries.
Electric two-wheeler deliveries during the quarter stood at 32,680 units, down from 84,029 units a year earlier and 52,666 units in the previous quarter. The automotive segment generated ₹467 crore in revenue with a net loss of ₹289 crore, while the cell segment posted ₹9 crore in revenue and a net loss of ₹89 crore.
Adjusted operating EBITDA loss came in at 323 crore, improving from 494 crore a year ago but widening from ₹258 crore in the preceding quarter. Despite the decline in revenue, consolidated gross margin improved significantly to 34.3%, compared with 18.6% in the year-ago period and 30.9% in the previous quarter.
Total operating expenses fell to 432 crore from ₹654 crore a year earlier, while cash and cash equivalents stood at 1,991 crore at the end of the quarter. The company said stabilising service metrics and the transition of its gigafactory to commercial-scale deployment are expected to support improved operating leverage and drive the next phase of growth.
