Ola Electric Q1 Revenue Up 35.5%, Auto Biz EBITDA Positive

New Delhi, Jul 14 (PTI) Ola Electric on Monday said its revenue from operations for the April-June quarter rose 35.5 per cent to Rs 828 crore, as against Rs 611 crore during the quarter ended March 31, 2025.

The Bengaluru-based firm said it delivered a total of 68,192 vehicles in Q1 FY26, as against 51,375 units delivered in Q4 FY25, marking an increase of 32.7 per cent quarter-on-quarter.

The company said its auto business turned EBITDA positive in June, on the back of strong gross margins owing to the company's vertical integration strategy.

The company's cost optimisation initiative, Project Lakshya, has driven significant operating efficiencies, reducing monthly auto operating expenses from Rs 178 crore to Rs 105 crore, it said in a statement.

Consolidated operating expense now stands at Rs 150 crore per month, and further reduction to Rs 130 crore a month is targeted through FY26, it added.

Ola Electric said it expects to sell between 3,25,000 to 3,75,000 vehicles and generate revenue of Rs 4,200 - Rs 4700 crore in the current fiscal.

With Production-Linked Incentive (PLI) benefits beginning from Q2 for the Gen 3 product portfolio, gross margin is projected to rise to 35-40 per cent, and the company anticipates full-year auto EBITDA of above 5 per cent, it added.

The company also expects the auto business to remain EBITDA positive from Q2 onwards, it noted.


Ola Electric said its product roadmap continues to yield strong customer traction.

The newly introduced Gen 3 scooters accounted for 80 per cent of total scooter sales during the quarter, it stated.

These scooters have not only delivered better margins but have also significantly reduced warranty claims, reflecting the company's ongoing engineering improvements, it added.

Meanwhile, the rollout of Roadster X motorcycles is progressing in phases, with the product now available in 200 stores across India and set to scale further during the upcoming festive season, the company stated.

The company has also successfully developed heavy rare earths (HRE) free motors which are scheduled for production deployment in Q3 FY26, it said.

The company will begin powering vehicles with the in-house developed 4680 Bharat Cell this Navratri, it added.

The company expects that by the end of FY26, it would fully utilise the 1.4 GWh, and install the remaining capacity to get to 5 GWh and scale consumption to 5 GWh through FY27, it stated.

Shares of the company were trading 6.55 per cent up at Rs 42.47 apiece on BSE.