Ola Electric Q1 net loss narrows to Rs 336 crore
Revenue from operations declined 45.0% year-on-year (YoY) to Rs 455 crore in Q1 FY27 as against Rs 828 crore in Q1 FY26.
Gross profit stood at Rs 139 crore in Q1 FY27 as against Rs 214 crore in Q1 FY26. Gross margin stood at 30.5% in Q1 FY27 as against 25.8% in Q1 FY26.
Operating expenses declined 35.0% YoY to Rs 333 crore in Q1 FY27 as against Rs 512 crore in Q1 FY26, while operating EBITDA loss narrowed to Rs 165 crore as against Rs 237 crore.
In the automotive segment, revenue from operations declined 44.9% YoY to Rs 455 crore in Q1 FY27 as against Rs 826 crore in Q1 FY26. Gross margin improved to 30.5% from 25.6%, while operating EBITDA loss widened to Rs 112 crore from Rs 96 crore.
The automotive segment?s net loss narrowed to Rs 233 crore in Q1 FY27 as against Rs 261 crore in Q1 FY26. Cash flow from operations stood at a negative Rs 120 crore as against a negative Rs 86 crore, while free cash flow stood at a negative Rs 123 crore as against a negative Rs 166 crore.
The cell segment reported revenue from operations of Rs 5 crore in Q1 FY27 as against Rs 3 crore in Q1 FY26. Gross margin stood at 20% as against 65.2% in the corresponding quarter last year.
The cell business reported operating EBITDA of Rs 28 crore in Q1 FY27 as against a loss of Rs 43 crore in Q1 FY26. Adjusted operating EBITDA stood at Rs 22 crore as against a loss of Rs 44 crore. The segment?s net loss narrowed to Rs 28 crore in Q1 FY27 as against Rs 69 crore in Q1 FY26.
Ola Electric said Q1 FY27 marked a strong scale-up in its automotive business, supported by improving demand momentum. Orders increased to approximately 44,000 units, while deliveries rose to around 39,200 units. Automotive revenue from operations stood at approximately Rs 455 crore, while gross profit stood at Rs 139 crore during the quarter.
Despite a challenging commodity environment, the company maintained a gross margin of 30.5%, which it said reflected the strength of its product economics. Commodity costs increased around 11% during the quarter, driven by higher copper and aluminium prices, lithium supply constraints in China and elevated plastics and polymer costs following crude oil supply disruptions.
Ola Electric said it continued to execute cost optimisation initiatives, with consolidated operating expenses declining 22% quarter-on-quarter to Rs 333 crore. The company remains focused on achieving a lower steady-state operating cost base of around Rs 300 crore per quarter.
The company expects operating leverage and continued cost efficiencies to support further improvement in adjusted operating EBITDA margins as monthly deliveries scale towards its previously communicated operating breakeven range.
During the quarter, Ola Electric completed a Rs 780 crore Qualified Institutional Placement (QIP), which was oversubscribed by 56% amid strong institutional demand. The company said the capital raised will strengthen its balance sheet and provide additional financial flexibility to support disciplined growth.
Ola Electric also received a one-time benefit to its cost base from PLI-related levies, supported by a favourable government stance towards its cell business. The company said the development reinforces the strategic importance of domestic cell manufacturing and aligns with the government?s broader focus on localisation, self-reliance and building an indigenous battery ecosystem.
The scrip shed 0.92% to end at Rs 41.07 on the BSE.
Powered by Capital Market - Live News