Ola Electric Mobility Releases Q1 Financial Results; Board Approves Outcomes and Appoints Internal Auditor

Ola Electric Mobility Releases Q1 Financial Results; Board Approves Outcomes and Appoints Internal Auditor​

Ola Electric Mobility Limited announced the approval of its unaudited consolidated and standalone financial results for the First Quarter and Three Months ended June 30, 2026. The company also confirmed the appointment of a new internal auditor for the Financial Year 2026-27.

The Board meeting, held on August 7, 2026, covered the review of these results by both management and statutory auditors.

Consolidated Financial Overview (Q1 FY2026)​

For the quarter ended June 30, 2026, Ola Electric Mobility reported significant consolidated figures across revenue and expenses. The results were reviewed by M/s. B S R & Co. LLP, who issued a Limited Review Report on the unaudited consolidated financial results.

The company's management noted that between March 31, 2024, and March 31, 2026, its subsidiary Ola Cell Technologies Private Limited (OCTPL) had recognized a provision of Rs. 57 crore relating to liquidated damages from the Ministry of Heavy Industries (MHI). During the current quarter, OCTPL submitted a request for timeline extension and waiver of these liquidated damages to MHI, leading the company to reverse the entire provision and recognize a corresponding credit within other expenses in the unaudited consolidated financial results.

Key segments analyzed during the quarter include "Automotive" and "Cell." The Q1 performance highlights from the consolidated segment information are summarized below:


The consolidated results were subject to a qualified review conclusion by the auditors due to the possible effect of the MHI provision reversal. Management affirmed that, despite challenges such as negative cash flow from operations during the quarter ending June 30, 2026 (amounting to INR 215 crores), the Group conducted an assessment and believes it will continue as a going concern for the foreseeable future.

Standalone Performance and Funding Update​

The unaudited standalone financial results for the quarter ended June 30, 2026 showed Total Income of INR 1,412 million lakhs against Revenue from operations of INR 48 million lakhs. The company reported a loss for the period ending June 30, 2026, amounting to (563) million lakhs.

During the quarter, the Company raised funds through a Qualified Institutional Placement (QIP), raising an aggregate amount of INR 78,024 lakhs by allotting 217,578,428 equity shares at an issue price of INR 35.86 per equity share. These proceeds are intended to support ongoing capital expenditure and working capital requirements.

Governance and Audit Appointments​

The Board of Directors approved the appointment of TRC Corporate Consulting Private Limited as the Internal Auditor for the Financial Year 2026-27, based on the recommendation of the Audit Committee. The firm is a consulting and business advisory entity with a team exceeding 300 professionals.

OLAELEC Stock Price Movement​

Ola Electric Mobility Limited shares slipped by 0.99% in the post-market session, closing today at ₹41.07 after shedding ₹0.41 from previous levels. The equity saw active trading throughout the day, recording a volume of 26.89 million shares.