New Delhi, Feb. 13 -- Ola Electric Mobility Ltd saw its revenue more than halve in the October to December period from a year ago, recording its lowest-ever quarterly revenue since it went public in August 2024, as the company closes stores and lays off employees in a bid to cut costs.

The company saw its losses narrow slightly to Rs.487 crore in the third quarter of the financial year 2026, from Rs.564 crore in the year-ago period, while its revenue fell 57% to Rs.504 crore amid dwindling sales. The electric two-wheeler company reported that its adjusted earnings before interest, tax, depreciation and amortization (Ebitda) margin deteriorated to -68.7% from -47.3% a year ago.

Vehicle deliveries during the quarter fell 61% to 32,680 uni...