Deepak Hastogi

“Today's discussion may include forward-looking statements and non-GAAP measures, so please refer to the disclaimer in our shareholder's letter. Over the last few quarters, we have been transitioning our business to rebuild it in a more sustainable model for growth.”

“As you are aware that Q1 marks an important point in the evolution of our business. You know, last year, which is financial year 26, was a year which actually took some difficult decisions and necessary actions.”

“So, good evening, everyone, and thank you for joining us. Financial year 26 was a year in which volumes were lower than where we wanted to be, but it was also a year in which the fundamentals of Ola Electric became materially stronger.”

“You know, Q3 this quarter marks a structural reset for Ola Electric. As EV penetration growth slows down and we identified gaps in service execution, we made a deliberate choice to align our retail footprint cost structure and operating model to a sustainable steady state.”