Ola Electric Q3 Results: Ola Electric Mobility released its results for the October-December quarter of the current financial year on Friday, February 13. The company said that its revenue fell 55% year-on-year to Rs 470 crore in the December quarter. The company’s revenue in the same quarter a year ago was Rs 1,045 crore.
There has been a decline of 31.9% from the revenue of Rs 690 crore in the September quarter. However, there was improvement in gross margin during this period and there was some reduction in losses on annual basis.
The company’s consolidated net loss in the December quarter stood at Rs 487 crore. This is 16.5% more than Rs 418 crore in the previous quarter. However, the loss has declined by 13.7% on an annual basis, as the company’s loss in the same quarter last year was Rs 564 crore.
Adjusted operating EBITDA loss also widened 25% quarter-on-quarter to Rs 323 crore, from Rs 258 crore in the September quarter. However, this loss has reduced by 34.6% on an annual basis, as this figure was Rs 494 crore in the same period last year.
There was also a decline in EBITDA margin. It fell to -68.7% from -37.4% in the previous quarter.
Gross margin improvement
Ola Electric Mobility’s gross margin improved during the December quarter. The company’s consolidated gross margin stood at 34.3% in the December quarter, which is 3.4 percentage points higher than 30.9% in the September quarter. On annual basis it has increased from 18.6% to 15.7 percentage points. Gross profit stood at Rs 161 crore. It was down 24.4% on a quarterly basis and 17% down on an annual basis.
Huge decline in delivery
There was also a sharp decline in the company’s delivery numbers. A total of 32,680 units were delivered in the December quarter, which is 38% less than the 52,666 units delivered in the previous quarter. The decline was even greater on an annual basis. Last year, 84,029 units were delivered in the same quarter, which means there has been a decline of 61% this time.
Spending and performance of auto segment
Total operating expenses increased by 3.8% quarter-on-quarter to Rs 432 crore, compared to a 34% decline year-on-year. Automotive segment revenue declined by 32% to Rs 467 crore. Adjusted operating EBITDA loss in the segment widened 63.7% to Rs 167 crore from Rs 102 crore in Q2.
stock performance
Ahead of the results, shares of Ola Electric Mobility had closed at Rs 30.09 on Friday, down 0.16 per cent. So far in the year 2026, the company’s shares have fallen by about 17.59 percent. Its shares have fallen by more than 50 percent in the last one year. After the quarterly results, Ola Electric shares will remain in focus in the trading on Monday 16th February.
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