Ola Electric Q3 FY26 Earnings Results: Revenue Falls 55% YoY, Gross Margin at 34.3%

Ola Electric Mobility Limited announced its Q3 FY26 earnings on February 13,2026, reporting a decline in revenue and continued losses, alongside improvement in gross margins and cost restructuring measures. 

Ola Electric Q3 FY26 Earnings Results 

Revenue from operations declined 55.0% year on year to ₹470 crore in the December 2025 quarter from ₹1,045 crore a year earlier. On a quarter on quarter basis, revenue fell 31.9% from ₹690 crore in the September 2025 quarter.  

Total income declined 57.0% year on year to ₹504 crore from ₹1,172 crore and dropped 33.3% quarter on quarter from ₹756 crore. Total expenses reduced 50.8% year on year to ₹741 crore from ₹1,505 crore and fell 17.0% quarter on quarter from ₹893 crore.  

EBITDA loss narrowed 28.8% year on year to ₹(237) crore from ₹(333) crore but widened 73.0% sequentially from ₹(137) crore. Net loss stood at ₹(487) crore, narrowing 13.7% year on year from ₹(564) crore but widening 16.5% from ₹(418) crore in the previous quarter. 

For 9M FY26, revenue declined 49.1% to ₹1,988 crore from ₹3,903 crore. Total income fell 48.7% to ₹2,156 crore from ₹4,204 crore. EBITDA loss narrowed 26.9% to ₹(543) crore, while net loss reduced 5.2% to ₹(1,333) crore compared to ₹(1,406) crore in 9M FY25. 

Read More: Ola Electric Share Price in Focus as Retail Investor Shareholding Climbs to Nearly 30% In Q3 FY26! 

Gross Margin and Operating Reset 

The company reported a consolidated gross margin of 34.3% in Q3 FY26, up from 18.6% a year ago and 30.9% in Q2 FY26. Quarterly operating expenditure reduced to ₹484 crore from a peak of ₹840 crore in Q4 FY25.  

The company indicated a roadmap to reduce quarterly opex to ₹250 to ₹300 crore over the next couple of quarters, lowering EBITDA breakeven to around 15,000 units per month. Total electric 2-wheeler deliveries stood at 32,680 units during the quarter. 

Gigafactory and Service Update 

During Q3 FY26, the company doubled cell production quarter on quarter to 72,418 cells and deployed in house 4680 Bharat Cells into customer vehicles.  

Installed capacity at the Gigafactory is approximately 2.5 GWh, with planned expansion to 6 GWh by March 2026. Service backlog reduced from 14 days at peak to 7 to 8 days, with nearly 80% of requests completed on the same day. 

Ola Electric Mobility Share Price Performance  

As of February 13, 2026, at 3:30 PM, Ola Electric Mobility share price on NSE was closed at ₹30.89 down by 0.26% from the previous closing price. 

Conclusion 

Ola Electric’s Q3 FY26 results reflect lower revenue and continued net losses, alongside improvement in gross margins and reduction in operating costs. The company also reported operational changes across manufacturing and service functions during the quarter. 

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