Ola Electric reported a consolidated net loss of ₹487 crore in Q3FY26, narrowing from ₹564 crore in the same quarter last year. However, on a sequential basis, losses widened from ₹410 crore recorded in Q2FY26.
The SoftBank-backed electric vehicle manufacturer witnessed a sharp decline in revenue during the quarter. Revenue from operations fell 55 per cent year-on-year to ₹470 crore, compared to ₹1,045 crore in Q3FY25. On a quarter-on-quarter basis, revenue also dropped nearly 32 per cent from ₹690 crore.
The decline in topline performance reflects continued challenges in the EV market, including demand fluctuations and competitive pressures. While the company managed to reduce its annual losses, the sequential widening of losses signals ongoing operational headwinds.
The Q3 performance highlights.
