Ride-hailing company Ola Cabs loss widens to Rs 3,082 crore in FY22
The company's total expenses for the fiscal were reported as Rs 1,539 crore, the statement said
 "Q1 results: Net profit of 113 firms up 10.8%, sales growth at 10-qtr low")
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Ride-hailing company Ani Technologies Pvt Ltd, popularly known as Ola Cabs, saw its loss widening to Rs 3,082 crore in 2021-22, according to financial data accessed by business intelligence platform Tofler.
The company's losses have more than doubled on a year-over-year basis, the data showed.
"Ani Technologies Pvt Ltd, an online transportation network company (popularly known as Ola Cabs), reported its revenues for the 2021-22 financial year at Rs 1,350 crore, a 49 per cent jump since the last financial year," Tofler said in a statement.
"The company further reported a net loss of Rs 3,082 crore during the fiscal. This is a 132 per cent higher than the last financial year," the statement said.
The company's total expenses for the fiscal were reported as Rs 1,539 crore, the statement said.
An email query sent to Ola seeking a response did not elicit an immediate reply.
Ola operates in more than 250 cities in India, Australia, New Zealand, and the UK.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Aug 10 2023 | 4:15 PM IST