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Electric vehicle maker Ola Electric continued to struggle during Q1 FY27 as its revenue declined 45% year-on-year. However, the Bengaluru-based company managed to narrow its losses by 22% to Rs 336 crore Ola Electric’s revenue from operations declined to Rs 455 crore in Q1 FY27 from Rs 828 crore in Q1 FY26, according to its consolidated financial statements filed with the National Stock Exchange (NSE). The company's automotive business generated Rs 455 crore, contributing 98.91% of segment revenue, while its cell business contributed Rs 5 crore, taking the combined segment revenue to Rs 460 crore during the quarter, without considering inter-segment eliminations. During the quarter, Ola Electric recorded 43,908 EV registrations, a 25% year-on-year decline. Apart from operating revenue, the company reported Rs 29 crore in other income, taking its total income to Rs 484 crore in Q1 FY27, compared with Rs 896 crore in the corresponding quarter last year. Ola Electric reduced its total expenses by 41.8% year-on-year to Rs 620 crore in Q1 FY27 from Rs 1,065 crore in Q1 FY26. Procurement (cost of materials) stood at Rs 317 crore, while employee benefit expenses declined 46.1% to Rs 48 crore during the quarter. Despite a 45% decline in operating revenue during Q1 FY27, Ola Electric reduced its net loss by 21.1% to Rs 336 crore from Rs 426 crore in Q1 FY26, aided by lower spending on manufacturing.On a sequential basis, Ola Electric's operating revenue jumped 71.7% to Rs 455 crore in Q1 FY27 fromRs 265 crorein the preceding quarter, while its losses declined 32.8% to Rs 336 crore from Rs 500 crore during the same period.In June 2026, Ola Electric hadraisedRs 780 crore through a Qualified Institutional Placement (QIP), with the issue being oversubscribed by 56% against its initial fundraising target of Rs 500 crore.At the close of trading on Friday, Ola Electric's shares settled at Rs 41.07 apiece, giving the company a market capitalization of Rs 19,185 crore. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.