Ola Electric on Wednesday reported a “strong comeback in business performance”, with daily orders exceeding 1,000 units in the last week of March. Its registrations, meanwhile, jumped over 150% month-over-month to 10,117 units in March from 3,973 units in February. The company said its market share witnessed a V-shaped M-o-M recovery, and it continued to gain share through the month.
The Bhavish Aggarwal-led company said this demand recovery was driven by a structural transformation in service operations. Over 80% of vehicles are now serviced on the same day, enabled by improved parts availability, faster diagnostics and tighter operational control across the network, it claimed.
Speaking about the recent service challenges seen over the past few months, Ola Electric said that it implemented big operational changes, resulting in significantly improved turnaround times and customer experience.
Ola Electric sees a clear inflexion in demand
Live Events
“We are seeing a clear inflexion in demand, with daily orders scaling steadily through March and accelerating meaningfully in the final weeks. This momentum is being driven by the structural improvements in our service operations, which are now delivering faster turnaround times and a significantly better ownership experience. As customer confidence strengthens, we are seeing stronger conversion across our portfolio, giving us confidence that this recovery will further sustain and scale,” a spokesperson for Ola Electric said.
In March, the company became the first EV brand in India to cross 1 million cumulative registrations, Ola Electric said, citing VAHAN data. It said this marked a historic milestone for the company and a defining moment for India’s EV ecosystem. “Together, the strong March performance, improving service fundamentals, and market initiatives signal a decisive and sustained turnaround, positioning Ola Electric to lead the next phase of EV adoption in India with scale, trust, and unmatched value,” it added.
Ola Electric share price jumped 3% to trade at Rs 26.69 apiece. The stock is down around 65% from its IPO price of Rs 76 apiece, and more than 83% lower than its all-time high of Rs 157.4 apiece, which it hit in August 2024 right after its debut.
Ola Electric earnings snapshot
Ola Electric in January reported a 55% YoY drop in consolidated revenue from operations at Rs 470 crore for the October-December quarter of the financial year 2026, as against Rs 1,045 crore during the same period of the previous financial year.
Its net loss, however, narrowed to Rs 487 crore during the quarter, while deliveries declined 61% YoY to 32,680 units in Q3 FY26.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)