Ola Electric Revenue Rises to INR 455 Cr

Ola Electric reported ₹455 crore in consolidated revenue from operations for Q1 FY27, compared with ₹265 crore in the previous quarter. The company delivered 39,192 units, while registrations increased 97% quarter-on-quarter, compared with 17% growth for the overall electric two-wheeler market. Its market share rose from 5.1% in Q4 FY26 to 8.4% in Q1 FY27.

Orders increased from 22,522 units in Q4 FY26 to approximately 44,071 units in Q1 FY27. Auto revenue increased 72% quarter-on-quarter, while gross profit stood at approximately ₹139 crore. Auto gross margin was 30.5%. Consolidated operating expenses, including lease expenses, fell 22% quarter-on-quarter to approximately ₹333 crore. The company continues to target quarterly operating expenses of around ₹300 crore.

“The first quarter of FY27 demonstrates the changes undertaken during the FY26 reset that are translating into measurable business outcomes. Volumes, revenue and market share strengthened during the quarter, while continued cost discipline enabled us to operate on a significantly leaner base. AI is now embedded across sales, registration, fulfilment, service and Cell R&D, improving speed, consistency and productivity as we scale without rebuilding the earlier cost structure. With a more efficient operating model, deeper own-cell integration and a strengthened balance sheet, our focus is firmly on disciplined growth, continued opex optimisation and translating higher scale into stronger operating leverage.” said an Ola Electric spokesperson.

Ola Electric completed a INR 780 crore Qualified Institutional Placement (QIP) during the quarter. The issue was 56% oversubscribed. The company said the funds provide additional financial flexibility.

Product and Manufacturing

Deliveries of the Roadster motorcycle increased 67% quarter-on-quarter, led by markets in North and West India. The company is also expanding through a dealership model.

Ola Electric said its in-house NMC cell is deployed and its BIS-certified 46100 LFP cell is vehicle-ready. It plans to use the LFP cell in scooters below 4 kWh. The company is also developing cell applications for defence, UAVs, near-space platforms, solar-linked storage and IPP-led Mahashakti applications.

AI-led calling in sales has resulted in 47% higher appointment conversion and 17% higher sales conversion compared with manual calling. Ola Electric is also using AI for registration, fulfilment, payments, reconciliation, warranty claims and Cell R&D.

For the next quarter, the company will focus on volume growth, operating expense optimization, AI-led execution, dealer-led distribution, own-cell integration and the use of Gigafactory capacity for mobility and energy storage.