Denemek ALTIN - Özgür
Ola revenue up 2X in FY22; losses widen as costs rise
Mint Mumbai
|August 11, 2023
Recovery in travel demand aided growth, but revenue still behind pre-covid levels
Cab aggregator Ola doubled its revenue in the financial year March 2022, reflecting a recovery from the widespread disruptions caused by the pandemic to the mobility business globally.
The company, led by co-founder and chief executive Bhavish Aggarwal, posted a consolidated operating revenue of Rs1,970.4 crore in FY22, rising from Rs983.2 crore in the year before, showed its latest annual filings with the Registrar of Companies.
The improved financial performance came amid an easing of covid-induced lockdowns and a gradual recovery in travel demand. Revenue, however, widely lagged Rs2,662.3 crore in the pre-covid year of FY20.
The increased sales failed to outweigh higher costs as Ola widened its net losses in FY22 to Rs1,522.33 crore from Rs1,116.6 crore in FY21. The company was forced to cut costs and lay off staff, helping narrow its losses from Rs2,208.2 crore in FY20.
Bu hikaye Mint Mumbai dergisinin August 11, 2023 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
Zaten abone misiniz? Oturum aç
Mint Mumbai'den DAHA FAZLA HİKAYE
Mint Mumbai
No silver bullet
Is silver set to emerge from the shadow of gold as a precious metal? Although its price fell about 2% on Tuesday, it has been enjoying a bull run that makes this dip seem more like a pause for breath than the start of a correction.
1 min
December 03, 2025
Mint Mumbai
Profits, credit lift fundraising by corporates
Corporate fundraising activity saw a significant revival in the September 2025 quarter.
2 mins
December 03, 2025
Mint Mumbai
MAKING SENSE OF IMF RATING AND GDP DATA
India's Q2 growth surpassed expectations, but the IMF rated GDP data quality a 'C'. While India is addressing many of the issues, it's a reminder that the country cannot afford long gaps in statistical improvements.
4 mins
December 03, 2025
Mint Mumbai
Chinese rare-earth dealers are dodging Beijing’s export curbs
Chinese rare-earth magnet companies are finding workarounds to their government's onerous export restrictions, as they seek to keep sales flowing to Western buyers without falling afoul of Chinese authorities.
4 mins
December 03, 2025
Mint Mumbai
Lenskart tops Nykaa on margins
In Lenskart Solutions Ltd's first results post-listing, investor focus should be on the comparison of pro forma financials.
2 mins
December 03, 2025
Mint Mumbai
State-owned banks flag deposit rate woes on policy eve
State-owned lenders have alerted the banking regulator that their inability to cut deposit rates as fast as loan rates is taking a toll on interest margins, three people familiar with the development said.
3 mins
December 03, 2025
Mint Mumbai
India’s battery dreams trip on visa hurdles for Chinese pros
Problems in renewal of visas for Chinese technicians have slowed the pace of buildout of India’s lithium-ion battery manufacturing factories for electric vehicles and energy storage, according to two people aware of the matter.
2 mins
December 03, 2025
Mint Mumbai
All eyes on RBI as fresh fall brings rupee closer to 90
The Indian rupee came within kissing distance of 90 to a dollar on Tuesday before likely central bank intervention rescued it from the brink, but not before it touched a new all-time low.
3 mins
December 03, 2025
Mint Mumbai
Samsung debuts 1st trifold smartphone
Samsung Electronics Co. unveiled its first so-called trifold smartphone, flaunting its engineering prowess in foldable devices even as the broader category has yet to catch on with consumers.
2 mins
December 03, 2025
Mint Mumbai
Meesho under fire from investors over SBI Funds allotment
Meesho Ltd's anchor book faced a setback after several major investors pulled out when the Indian e-commerce firm was said to have allocated about a quarter of the shares in this tranche to SBI Funds Management Pvt,, the country’s largest asset manager, according to people familiar with the matter.
1 mins
December 03, 2025
Translate
Change font size