Bhavish Aggarwal-run Ola Electric Mobility Ltd reported a consolidated net loss of Rs 418 crore for the July-September period (Q2 FY26), its exchange filing said on Thursday, as revenue slipped. 

Revenue from operations dropped 43 per cent year-on-year to Rs 690 crore in Q2 FY26, down from Rs 1,214 crore in Q2 FY25, indicating a substantial decline in sales for the quarter.

However, the electric two-wheeler maker’s operating EBITDA loss narrowed to Rs 203 crore during the quarter from Rs 379 crore a year earlier, indicating improved cost efficiency

The company’s auto segment delivered an EBITDA margin at 0.3 per cent by reducing Auto operating expense from Rs 308 crore to Rs 258 crore (on-quarter), the release said.

After the announcements of the results, Ola Electric’s stock fell to Rs 49.4 on the NSE, down 66 paise, during intra-day trade, posting a decline of 1.32 per cent from the previous close.

“For the Auto segment, we expect lower volumes than the Q1 guidance as we continue to focus on margin and cash discipline in a hyper competitive market,” the company said in its filing.

For H2 FY26, Ola Electric targets total deliveries of approximately 100,000 units. This moderation in unit volumes will be complemented by volumes from its new vertical beginning in Q4, the company added.

The company recorded sales of 16,034 e-scooters in October, marking a 61 per cent decline from 41,843 units sold in the same month last year, according to data from the government’s Vahan portal.

“On a full-year basis, we now expect FY26 consolidated revenue of around Rs 3,000 – Rs 3200 crore, reflecting a balanced focus on profitability over volumes,” the company said.

The auto segment will continue to improve QoQ profitability. We expect to exit Q4 with Auto gross margins around 40 per cent and segment EBITDA of around 5 per cent, it added.