Mumbai/IBNS, Nov. 6 -- Ola Electric on Thursday reported that its net loss has narrowed to Rs. 418 crore in the second quarter of FY 2025-2026 as compared to the same period in the last fiscal year, media reports said.

In Q2 of FY 2024-2025, Ola Electric had reported a net loss of Rs. 495 crore.

However, the company's revenue has tanked by 43 percent on the Year-on-Year basis.

The EV maker said its auto business turned profitable supported by a 30.7% gross margin.

The company also announced that its auto gross margin expanded sequentially by 510 bps to 30.7%, higher than most ICE 2W companies, with minimal PLI contribution of 2.0%.

The company's consolidated revenue from operations for Q2 FY26 stood at Rs.690 Cr with total deliveries...