New Delhi, 13 February (IANS). Ola Consumer, a cab service company led by Bhavish Aggarwal, presented the results of FY 24 on Thursday. The company’s income has fallen by 21 percent.
Consolidated income from the company’s operations and other items in FY 24 fell by 21.06 percent to Rs 2,368 crore, which was Rs 3,000 crore in FY 23.
Apart from this, the standalone income of Ola Consumer ANI Technology has been Rs 1,906 crore in the income financial year 24, which was Rs 2,135 crore in the last financial year.
In FY 24, Ola Consumer has achieved profits at the EBITA level in Mobility and Financial Services segment.
The company said that its full year’s Ebita (removing the closed operations) was Rs 271 crore, which was Rs 87 crore in FY 23.
Ola Consumer has expanded its ride service and introduced premium services such as Prime Plus and two and three wheel mobility services in Tier 2 and Tier 3 cities.
The company said that it has continued to add electric vehicles to its fleet. The reason for this is to increase the low operational cost and demand.
Ola launched Ola Coin in August. It is a reward program, which offers incentives on transactions on mobility, e-commerce and logistics services.
Apart from this, Ola Electric Mobility recorded a loss of Rs 564 crore in the third quarter of FY 25, which saw a gain of 50 percent on an annual basis.
The company suffered a loss of Rs 376 crore in the third quarter of FY 24.
In the October-December quarter, the income from the company’s operation has come down by 19.36 percent to Rs 1,045 crore on an annual basis, which was Rs 1,296 crore in the same quarter of the previous financial year.
-IANS
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