Electric vehicle maker Ola Electric continued to witness a sharp slowdown in business during Q4 FY26 as its revenue dropped more than 56% year-on-year amid weak scooter sales and continued cash burn. However, the Bengaluru-based company managed to narrow its losses during the quarter through aggressive cost controls. Ola Electric’s revenue from operations declined to Rs 265 crore in Q4 FY26 fromRs 611 crorein the same quarter last year, according to its consolidated financial statements filed with theNational Stock Exchange(NSE). Total income, including other income, also fell sharply to Rs 304 crore in Q4 FY26 from Rs 728 crore in Q4 FY25. The company’s automotive business continued to remain the primary revenue contributor, while its cell business generated only Rs 4 crore during the quarter. Segment data also showed that Ola’s automotive revenue for the full fiscal year fell nearly 50% to Rs 2,245 crore in FY26 from Rs 4,514 crore in FY25. Ola Electric reduced its total expenses by 58% year-on-year to Rs 546 crore in Q4 FY26 from Rs 1,306 crore in the corresponding quarter last year. Procurement costs stood at Rs 163 crore, while employee benefit expenses dropped 37% to Rs 58 crore during the quarter. Controlled spending and lower operational scale helped the Bhavish Aggarwal-led company cut its losses by 42.5% to Rs 500 crore in Q4 FY26 from Rs 870 crore in Q4 FY25. On a full-year basis, the company reported a net loss of Rs 1,833 crore in FY26. The latest financial statements also highlighted growing concerns around the company’s financial health. Ola Electric reported a negative operating cash flow of Rs 775 crore during FY26 due to continued losses and lower-than-expected sales growth. The auditors also included an emphasis on the company’s “going concern” assumptions in their report. To improve liquidity, Ola Electric has already reallocated a portion of its IPO proceeds and is now preparing to raise fresh capital through a qualified institutional placement (QIP). The company said it has initiated discussions with institutional investors and substantially completed investor engagement for the proposed fundraising. The company has also been dealing with multiple regulatory and operational issues in recent months. Ola Electric received queries from the Securities and Exchange Board of India (SEBI) and NSE regarding discrepancies between vehicle sales disclosed by the company and Vahan registration data. The company clarified that the announced figures referred to bookings and not actual registrations. Separately, the Central Consumer Protection Authority (CCPA) had also sought details regarding customer complaints filed against the company through the National Consumer Helpline. At the close of trading on Wednesday, the shares of Ola Electric settled at Rs 36.5 per share, giving the company a market capitalization of Rs 16,099 crore (around $1.7 billion). Ola Electric’s competitor Ather Energy reported4.4x higher revenuein Q4 FY26 at Rs 1,
