Mumbai, February 13:Ā Electric two-wheeler company Ola Electric on Friday reported 55.02 per cent decline in its revenue from operations (year-on-year) to Rs 470 crore in Q3 FY26, compared to Rs 1,045 crore in the same period last fiscal. The company's total revenue also saw a significant decline in the December quarter, falling 56.99 per cent year-on-year to Rs 504 crore, compared to Rs 1,172 crore in the same period last year.

Ola Electric continues to suffer losses. In the December quarter of FY26, the company reported a loss of Rs 487 crore, compared to Rs 564 crore in the same period last year. The company's losses increased quarter-on-quarter.Ā  The company had incurred a loss of Rs 418 crore in the September quarter. The company's expenses declined in the December quarter of FY26. The company's total expenses decreased by 50.76 per cent to Rs 741 crore in the October-December period, compared to Rs 1,505 crore in the same period last year.Ā ā€˜Iā€™m Left With No Optionā€™: Ola Electric Faces User Backlash Over After-Sales Failures, Repair Delays Despite Ola Care Coverage.

The significant reason for the decrease in expenses is the lower cost of materials used in production. Material costs in the December quarter of FY26 were Rs 223 crore, a 74 per cent decrease from Rs 867 crore spent in the December quarter of FY25. Ola Electric shares closed at Rs 30.9 on Friday, down 0.26 per cent. During the day, it hit a new 52-week low of Rs 30.41. The stock has delivered a negative return of 51.90 per cent over the past year.Ā Hero Vida Ubex Electric Bike Design Patented in India; Check Expected Price, Features and Specifications.

Since the beginning of this year, the stock has fallen 17.59 per cent. Ola Electric, which has been facing difficulties, laid off employees last month. It stated that approximately 5 per cent of its employees will be affected as part of this ongoing structural change. The company further stated that it is focused on providing a superior customer experience and building a streamlined organization for long-term, profitable growth.

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