Ola Electric Mobility Ltd reported a narrower consolidated net loss of ₹336 crore for the first quarter ended June 30, 2026 (Q1 FY27), compared with ₹428 crore in the corresponding quarter last year, even as revenue declined sharply amid a business reset undertaken during FY26.
The electric two-wheeler maker’s revenue from operations fell 45% to ₹455 crore in Q1 FY27 from ₹828 crore in the year-ago quarter. Despite the decline, the company said its restructuring efforts are beginning to yield results, with higher volumes, improving market share and a leaner operating cost structure.
An Ola Electric spokesperson said the first quarter reflected the impact of changes implemented during the FY26 reset, translating into measurable business outcomes.
“The first quarter of FY27 demonstrates the changes undertaken during the FY26 reset that are translating into measurable business outcomes. Volumes, revenue and market share strengthened during the quarter, while continued cost discipline enabled us to operate on a significantly leaner base,” the spokesperson said.
The company said artificial intelligence has now been integrated across sales, vehicle registration, fulfilment, service operations and cell research and development, helping improve productivity while supporting growth without rebuilding its earlier cost structure.
Orders, deliveries nearly double
Ola Electric reported a strong sequential improvement in demand during the quarter. Orders nearly doubled to 44,071 units in Q1 FY27 from 22,522 units in Q4 FY26, while vehicle deliveries increased to 39,192 units from 20,256 units in the preceding quarter.
The company said it outpaced the overall electric two-wheeler market as demand and fulfilment improved, enabling it to regain market share across a broader geographical base.
Northern and eastern states, including Uttar Pradesh, Uttarakhand, Punjab, West Bengal, Bihar, Jharkhand and Assam, recorded the strongest growth, while Gujarat, Maharashtra, Karnataka and Tamil Nadu also posted sequential improvements.
₹780 crore QIP boosts balance sheet
During the quarter, Ola Electric completed a ₹780 crore Qualified Institutional Placement (QIP), which was oversubscribed by 56%.
The company said the successful fund raise strengthened its balance sheet and enhanced financial flexibility to support disciplined growth and future investments.
Roadster, battery integration gain momentum
Ola Electric said its Roadster motorcycle continued to expand the company’s addressable market beyond electric scooters.
Motorcycle deliveries grew 67% quarter-on-quarter, driven by strong demand from motorcycle-dominated markets in northern and western India.
The company also highlighted progress in battery technology, stating that its in-house nickel manganese cobalt (NMC) batteries are already deployed, while its BIS-certified 46100 LFP cell is now vehicle-ready. This will enable faster adoption of lithium iron phosphate (LFP) batteries in scooters below 4 kWh, lowering battery costs and improving affordability.
The company is also expanding into a dealership-led retail model to increase market reach alongside its company-owned outlets.
AI-led operations to drive efficiency
According to the company, AI-led customer engagement has significantly improved sales efficiency, with automated calling delivering 47% higher appointment conversions and 17% higher sales conversions than manual calling.
AI is also being deployed across registration, payments, warranty claims and Cell R&D to improve turnaround times, automate workflows and accelerate product development.
Looking ahead, Ola Electric said its priorities include scaling volumes while optimising operating expenses, expanding AI-led execution, strengthening dealer-led distribution, increasing the use of in-house battery cells and leveraging its Gigafactory capacity for both mobility and energy storage applications.