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Ola Electric reported a consolidated net loss of ₹418 crore for the quarter ended September 30, 2025, an improvement from the ₹495 crore loss in the same period last year. However, revenue from operations fell 43 per cent to ₹690 crore, compared to ₹1,214 crore in Q2FY25. The company said its auto business has turned cash-generative, posting an underlying operating cash flow of ₹15 crore. The reported cash flow, however, stood at –₹40 crore due to a one-time festive inventory build-up. Ola also indicated that operating expenses were reduced by about 52 per cent versus the previous quarter. Delivers 52,666 vehicles In Q2FY26, the company delivered 52,666 vehicles and manufactured 38,080 cells. To meet rising demand, Ola plans to scale total cell manufacturing capacity to 20 GWh by the second half of FY27, enabling complete vertical integration across its Auto and Energy divisions. Its Gigafactory, which became operational with 2.5 GWh of installed capacity, is being ramped up to 5.9 GWh by March 2026. During the quarter, Ola launched HyperService, a platform offering open access to genuine spare parts for customers and third-party garages. The company expects this to improve service coverage, enhance customer experience, reduce warranty costs, and build a high-margin parts business with gross margin potential above 50 per cent. Looking ahead, the company said it is entering a more balanced and diversified phase of growth. Over the coming quarters, its revenue mix is expected to broaden beyond automotive as energy products scale up. Gross margins are projected to improve with higher Gen-3 vehicle volumes, in-house cell production, and continued optimisation of operating costs, it added. Published on November 6, 2025
