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Ola Electric’s Q2 FY27 revenue dips 39% to Rs 421 Cr; cuts losses by 13%

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Ola Electric’s Q2 FY27 revenue dips 39% to Rs 421 Cr; cuts losses by 13%

After witnessing a prolonged slowdown over the past eight quarters, electric vehicle maker Ola Electric continued to face pressure on its business in Q2 FY27, with revenue declining 39% year-on-year. However, the Bengaluru-based company managed to narrow its losses by 13%.

Ola Electric’s revenue from operations declined to Rs 421 crore in Q2 FY27 from Rs 690 crore in the same quarter last year, according to its consolidated financial statements filed with the National Stock Exchange.

The company's automotive business generated Rs 420 crore, while its cell business contributed Rs 3 crore during the quarter, before inter-segment eliminations of Rs 2 crore. During the quarter, Ola Electric recorded 41,650 EV registrations, a 17% year-on-year decline.

Apart from operating revenue, the company reported Rs 27 crore in other income, taking its total income to Rs 448 crore in Q2 FY27, compared with Rs 896 crore in the corresponding quarter last year.

On a sequential basis, the company’s revenue from operations fell over 7% from Rs 455 crore in Q1 FY27.

The decline in revenue was accompanied by a reduction in procurement costs, which fell 38% YoY to Rs 295 crore in Q2 FY27. However, employee benefit cost rose 22% to Rs 67 crore. Overall, Ola Electric’s total expenses fell 31% to Rs 810 crore from Rs 1,174 crore in the year-ago quarter.

Overall, Ola Electric’s total expenses fell 31% to Rs 810 crore from Rs 1,174 crore in the year-ago quarter.

Despite lower sales and a decline in revenue, Ola Electric managed to narrow its losses by 13% year-on-year to Rs 362 crore in Q2 FY27.


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