Ola Electric Eyes Revival with Strong Q1 FY26 Deliveries, Revenue on Upswing

New Delhi, July 2, 2025: Ola Electric is showing early signs of a recovery, with vehicle registrations touching nearly 60,000 units in Q1 FY26, as per VAHAN data. Sources familiar with the company’s performance indicate that this momentum could accelerate further in the second quarter, driven by a revival in demand and improved operational metrics.

9% MoM Growth in June, Revenue Set to Surge 25% QoQ

Registrations in June alone grew 9% month-on-month, indicating a positive turnaround after a subdued Q4 FY25. Analysts tracking the company anticipate a quarter-on-quarter revenue jump of nearly 25%, driven by stronger deliveries and better cost optimization.

With additional deliveries in Telangana and the clearance of Q4 FY25 backlogs, Ola Electric is expected to surpass 65,000 vehicle deliveries in Q1, placing it on track to comfortably meet its revenue guidance of Rs 800–850 crore for the quarter.

Network Expansion and Service Reforms Fuel Growth

Ola Electric’s improved performance in the quarter is attributed to its recalibrated strategy and a significant expansion of its distribution network. By December last year, the company had quadrupled its retail footprint to 4,000 stores. The expanded footprint has also enabled the brand to penetrate deeper into small towns and tehsils, boosting accessibility.

Turning the Page After a Challenging FY25

The company had a turbulent FY25, marked by restructuring efforts that led to 1,000 job cuts and service-related controversies. In March 2025, its arm Ola Electric Technologies Pvt Ltd resolved a legal dispute with vehicle registration partner Rosmerta Group, which had earlier initiated insolvency proceedings.

Ola Electric also came under scrutiny from the Central Consumer Protection Authority (CCPA) for alleged service deficiencies. Out of 10,644 complaints, the company claims to have resolved 99.1%, although the CCPA requested further documentation in January 2025.  That is, the CCPA had earlier ordered a detailed investigation into complaints related to Ola’s electric two-wheelers and after-sales support.

Financial Snapshot: Losses Widen Despite Operational Gains

• The company reported a net loss of ₹2,276 crore for FY25, widening from ₹1,584 crore in FY24.
• Annual revenue declined to ₹4,514 crore in FY25, compared to ₹5,010 crore in the previous fiscal.
• In Q4 FY25, the net loss stood at ₹870 crore.
• Revenue for the quarter dropped to ₹611 crore, down from ₹1,598 crore in Q4 FY24.

With better margins, delivery momentum, and enhanced service response, Ola Electric is setting the foundation for a potential turnaround heading into the second half of FY26.

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