Mumbai, May 20 (IANS) Ola Electric Mobility Limited on Wednesday reported a sequential increase in net loss for the March quarter (Q4 FY26) as the EV-maker posted a consolidated net loss of Rs 500 crore for the January-March quarter, slightly higher than the Rs 487 crore loss reported in the December quarter (Q3 FY26).

However, the loss narrowed significantly compared to a net loss of Rs 870 crore in the same period last financial year (Q4 FY25), according to its stock exchange filing.

Revenue from operations declined sharply during the quarter, falling 56.6 per cent year-on-year to Rs 265 crore from Rs 611 crore in the corresponding quarter of the previous financial year.

EBITDA loss for the quarter stood at Rs 281 crore, improving from a loss of Rs 690 crore reported a year earlier, as per its regulatory filing.

Despite weak topline performance, the company reported its first operating cash-flow positive quarter.

Consolidated cash flow from operations came in at Rs 91 crore during the March quarter.

The company’s consolidated gross margin improved significantly to 38.5 per cent in Q4 FY26 from 13.7 per cent in the year-ago quarter.

Management said margins may moderate during the first half of FY27 due to commodity inflation and aggressive pricing strategies aimed at driving growth, but added that the company has sufficient margin buffer to remain competitive.

According to the management, service-related issues remained the biggest constraint on demand during FY26, though the situation has now “materially stabilised”.

The company said average service turnaround time was reduced by 88 per cent between October 2025 and March 2026, while pending service backlog also declined sharply.

Commenting on quarterly earnings, an Ola Electric spokesperson said that FY26 was a reset year for Ola Electric.

“We strengthened the fundamentals of the business across service, product quality, gross margins, operating costs, cash discipline, sales productivity, and cell manufacturing,” the spokesperson added.

Earlier this month, Ola Electric Mobility Limited said its 4680 Bharat Cell-powered S1 X+ 5.2 kWh electric scooter received certification under the Central Motor Vehicle Rules from the International Centre for Automotive Technology (ICAT), Manesar.

The company described the certification as a major milestone for its electric scooter portfolio, with the S1 X+ 5.2 kWh positioned as the longest-range scooter in its mass-market lineup.

–IANS

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