Electric two-wheeler maker Ola Electric reported an operating revenue of Rs 690 crore for the second quarter of FY26, a 43% drop from Rs 1,213 crore in the same quarter a year ago.
The company's loss narrowed to Rs 418 crore in the September quarter from Rs 495 crore a year earlier. The losses narrowed primarily because of a major reduction in expenses.
Ola Electric reported total expenses of Rs 893 crore for the quarter, less than half of the Rs 1,953 crore outgo a year back.
While employee expenses went down to Rs 55 crore from Rs 139 crore a year ago, the cost of materials consumed in manufacturing scooters halved to Rs 514 crore.
In a letter to shareholders, the company said that its auto business turned cash-generative, with the underlying cash flow from operations at Rs 15 crore. The company reported this as a negative Rs 40 crore owing to a one-time festive inventory buildup, it said in the letter.
The Bhavish Aggarwal-run company recorded sales of 16,034 e-scooters in October, a 61% decline from 41,843 units sold in the same month last year. The decline reflects Ola Electric's loss in market share, with the company being overtaken by legacy companies such as Bajaj Auto and TVS Motor.
While announcing first-quarter results in July, Aggarwal ad said that the company was moving away from aggressive expansion, and towards profitability and operational stability.
The company's loss narrowed to Rs 418 crore in the September quarter from Rs 495 crore a year earlier. The losses narrowed primarily because of a major reduction in expenses.
Ola Electric reported total expenses of Rs 893 crore for the quarter, less than half of the Rs 1,953 crore outgo a year back.
While employee expenses went down to Rs 55 crore from Rs 139 crore a year ago, the cost of materials consumed in manufacturing scooters halved to Rs 514 crore.
In a letter to shareholders, the company said that its auto business turned cash-generative, with the underlying cash flow from operations at Rs 15 crore. The company reported this as a negative Rs 40 crore owing to a one-time festive inventory buildup, it said in the letter.
The Bhavish Aggarwal-run company recorded sales of 16,034 e-scooters in October, a 61% decline from 41,843 units sold in the same month last year. The decline reflects Ola Electric's loss in market share, with the company being overtaken by legacy companies such as Bajaj Auto and TVS Motor.
While announcing first-quarter results in July, Aggarwal ad said that the company was moving away from aggressive expansion, and towards profitability and operational stability.
