Ola also raised ₹780 crore through an oversubscribed qualified institutional placement and outlined plans to expand its energy storage business with the launch of its Mahashakti product on August 15.
EV-maker Ola Electric has narrowed its loss by 21% year-on-year (y-o-y) to ₹336 crore in Q1 FY27, even as its revenue fell 45% to ₹455 crore. The company, however, saw a sharp sequential recovery in volumes, with orders nearly doubling to 44,071 units and deliveries rising 94% to 39,192 units.Its market share, as a result, has increased to 8.4% in the June quarter from 5.1% in the preceding three months.Meanwhile, the company has also shifted to a dealership-led model to expand its retail reach and accelerate sales.Regional demand strengthens despite input-cost pressuresOla said its demand momentum has improved across regions, with the North and South growing about 54% each and the East growing about 34%. In the West, the growth was led by Gujarat and Maharashtra, while Uttar Pradesh, Rajasthan, and the broader regional cluster supported growth in the North.Karnataka and Andhra Pradesh-Telangana drove the acceleration in the South, with Tamil Nadu also showing sequential improvement. In the East, momentum strengthened across Bihar, Jharkhand, Odisha, West Bengal, and the North-East.The company said it plans to deepen its market share in the North and East, while replicating its execution strategy in the South and West to convert sequential improvement into sustained scale.During the quarter, commodity costs increased about 11%, driven by higher copper and aluminium prices, lithium supply constraints in China, and elevated plastics and polymer costs following crude oil supply disruptions, said the company.QIP success and energy storage expansion plansOla also raised ₹780 crore through a qualified institutional placement (QIP), which was 1.56 times oversubscribed, reflecting strong institutional demand.Meanwhile, energy storage is emerging as a key driver of demand for the company’s cell business. Its Shakti product will target home and commercial energy storage applications, including residential power backup and small- and medium-sized businesses. The company plans to launch Mahashakti on August 15.Published on August 7, 2026
