Ola making profit on every ride, IPO in 4 years: CEO Bhavish Aggarwal

Turning a profit would essentially bring down company's reliance on raising capital from investors to grow its business further in the country and beyond

Ola
Premium

Ola

Alnoor Peermohamed Bengaluru
After years of intense competition and burning millions of dollars, India’s ride-hailing giant Ola claims it has come out on top of its main competitor Uber and is now making a profit on every ride it offers in India.

Co-founder and Chief Executive Officer Bhavish Aggarwal said the company was operationally profitable and would soon become cash flow positive. “Ola in India makes money on every ride. Our focus over the past couple of years has been to keep growing the market and our share in the market and build up on sustainable business,” Aggarwal said at a fireside chat in Bengaluru on Friday.

Turning a profit would essentially bring down the firm’s reliance on raising capital from investors to grow its

First Published: Jul 21 2018 | 12:39 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com