Ola Electric Mobility Limited has released its unaudited consolidated financial results for the quarter and six months ended September 30, 2026. The company reported a total income of ₹448 crore for the quarter, alongside total expenses of ₹639 crore, resulting in a loss before tax of ₹362 crore. The limited review report from BSR & Co. LLP expressed a qualified conclusion on these results.
Ola Electric Mobility Limited Announces Q2 FY27 Financial Results
November 12, 2026 – Ola Electric Mobility Limited has submitted its unaudited consolidated financial results for the quarter and six months ended September 30, 2026. The report details the company’s financial performance, including a review by its statutory auditors.
Financial Highlights for Q2 FY27
For the quarter ended September 30, 2026, Ola Electric Mobility Limited reported:
- Total Income: ₹448 crore
- Total Expenses: ₹639 crore
- Loss before tax: ₹362 crore
- Total comprehensive loss: ₹361 crore
The six-month period ended September 30, 2026, saw total income of ₹932 crore and total expenses of ₹1,259 crore, leading to a loss before tax of ₹698 crore. The total comprehensive loss for this period was ₹697 crore.
Auditor’s Limited Review
The accompanying unaudited consolidated financial results have undergone a limited review by BSR & Co. LLP, Chartered Accountants. The auditors have expressed a qualified review conclusion on the consolidated financial results for the quarter and six months ended September 30, 2026. This qualification is primarily due to a matter related to the reversal and recognition of a provision by its subsidiary, Ola Cell Technologies Private Limited, concerning liquidated damages.
Statement of Assets and Liabilities
As at September 30, 2026, Ola Electric Mobility Limited’s consolidated assets stood at ₹7,246 crore, with total equity and liabilities amounting to ₹7,246 crore. The company’s financial statements reflect a going concern assumption, based on management’s assessment of future cash flows and projected business operations.
Cash Flow from Operations
During the six months ended September 30, 2026, the company reported a net cash used in operating activities of ₹403 crore, compared to a positive cash flow of ₹20,349 lakh in the corresponding period of the previous year. The company’s management is actively considering mitigating circumstances to support its operations and meet its ongoing obligations.
Equity and Capital Infusion
Subsequent to the quarter, Ola Electric Mobility Limited has allotted 37,02,72,665 partly paid-up equity shares on a rights basis, raising approximately ₹1,000 crore. A significant portion of this amount, approximately ₹600 crore, has been received as application money. These proceeds are expected to enhance the Group’s liquidity and support its financial commitments.
IPO Proceeds Utilization
The utilization of net IPO proceeds as at September 30, 2026, shows that out of the total net proceeds of ₹5,275 crore, ₹5,139 crore has been utilized, with ₹136 crore remaining unutilized. These funds are earmarked for capital expenditure, debt repayment, research and development, and general corporate purposes.
Notes on Financial Matters
The notes to the financial results highlight various matters, including the fair valuation of an investment in Series D preferred shares, a request for information from the Central Consumer Protection Authority (CCPA), and a Show Cause Notice from SEBI concerning disclosures and announcements. The company is pursuing a settlement with SEBI without admission of liability for the SEBI notice.
Source: BSE
