On Monday, July 14, electric scooter maker Ola Electric reported a bigger loss of INR 428 crore for the first quarter of the financial year 2025-26 (FY26).
This is more than the INR 347 crore loss the company had during the same time last year.
However, the loss was smaller than the INR 870 crore reported in the previous quarter (Q4 FY25), showing some improvement compared to the last quarter.
Total expenses also dropped by 42% to INR 1,065 crore, mainly because the cost of raw materials went down by 66% to INR 441 crore.
The company told its shareholders that it is shifting from fast expansion to a more focused plan that aims to increase profits.
“We’ve made a pivot to our strategy over the last two quarters from aggressive penetration to balanced profitable growth,” the company said, noting that the current focus is on consolidating operations, improving margins, and laying the groundwork for future expansion.
Ola Electric said it is now focusing on growing its sales network, adding more products, and attracting a new group of electric vehicle (EV) customers.
For the financial year 2025-26 (FY26), the company expects to sell between 325,000 and 375,000 vehicles.
They also expect revenue to be between INR 4,200 crore and INR 4,700 crore. In FY25, their revenue was INR 4,514 crore, which was about 10% less than the year before.
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