Ride-hailing major Ola’s India mobility business reported a standalone EBITDA profit of ₹250 crore in FY23 compared to a loss of ₹66 crore in FY22. The company’s revenue grew 58 per cent to ₹2,135 crore in FY23 from ₹1,350 crore in FY22. Bhavish Aggarwal, MD, ANI Technologies on Thursday announced that Ola’s India Mobility Business has turned EBITDA positive in FY23. “While our revenue continued to grow at a strong clip of 58 per cent, we became EBITDA positive in the India mobility business. In fact, in many States, regulations support the idling of electric two-wheelers and disincentivise traditional engine rides.

Source: The Hindu January 26, 2024 05:54 UTC