Overview
- Revenue from operations fell 55% year on year to Rs 470 crore, with deliveries down to 32,680 scooters for the quarter.
- Net loss narrowed to Rs 487 crore, while consolidated gross margin reached a record 34.3% on tighter costs and vertical integration.
- Total expenses dropped to Rs 741 crore, and the company targets quarterly opex of Rs 250–300 crore to reduce EBITDA breakeven to about 15,000 units per month.
- Bhavish Aggarwal acknowledged service issues eroded brand trust; Ola reports its service backlog has halved and says 80% of tickets now close the same day.
- Cell output doubled to 72,418 units with first commercial use of 4680 Bharat Cells, the gigafactory operates at ~2.5 GWh with a plan for 6 GWh by March 2026, and the firm launched the Ola Shakti BESS and opened its cell platform to third parties.