Ola, India’s largest ride-hailing start-up, is projected to turn profitable by 2018-19 and rake in $1 billion as profit by 2021, according to an independent agency the company employed to value it.
The projections, part of the firm’s valuation report dated March 18, 2017, stated that the firm would achieve a net operating profit after tax of Rs 1,170.49 crore in 2018-19. In the subsequent two years, profits after tax would grow to Rs 3,326.99 crore and Rs 6,423.33 crore, respectively. The report, compiled by Jain Ambavat & Associates in March, was part of Ola’s disclosure to the Registrar of
