MUMBAI, India — Electric two-wheeler maker Ola Electric reported a sharp drop in revenue and wider sequential losses in the December quarter, reflecting continued pressure on its business amid slowing sales and restructuring efforts.
Revenue from operations fell 55.02 percent year over year to Rs 470 crore in the third quarter of FY26, compared with Rs 1,045 crore in the same period last year, the company said Friday. Total revenue declined 56.99 percent to Rs 504 crore, down from Rs 1,172 crore a year earlier.
The company remained loss-making, posting a net loss of Rs 487 crore in the October–December quarter. While losses narrowed from Rs 564 crore in the year-ago period, they increased on a quarter-on-quarter basis from a loss of Rs 418 crore reported in the September quarter.
Ola Electric’s expenses declined sharply during the quarter, with total expenditure falling 50.76 percent year over year to Rs 741 crore, compared with Rs 1,505 crore in the same period last fiscal.
The reduction in costs was largely driven by lower material expenses. Spending on materials used in production dropped 74 percent to Rs 223 crore in the December quarter of FY26, down from Rs 867 crore in the corresponding period last year.
Shares of Ola Electric closed at Rs 30.9 on Friday, down 0.26 percent. During the session, the stock touched a new 52-week low of Rs 30.41. The shares have declined 51.90 percent over the past year and are down 17.59 percent so far in 2026.
The company has also taken steps to streamline operations. Last month, Ola Electric said it would lay off about 5 percent of its workforce as part of a structural reorganization. The company said the move is aimed at improving customer experience and building a leaner organization focused on long-term, profitable growth. (Source: IANS)
