Ola reports its first-ever operating profit of Rs 90 crore in FY21 ahead of potential IPO

Ola, the ride-hailing startup, has reported its first operating profit of Rs 89.82 crore for FY2020-21, despite revenue falling 66 percent to Rs 689.61 crore because of Covid-19-induced lockdowns. According to regulatory documents accessed from business intelligence platform Tofler, ANI Technologies, Ola’s parent company, showed a standalone operating profit (EBITDA i.e. earnings before interest, taxes, … Continue reading Ola reports its first-ever operating profit of Rs 90 crore in FY21 ahead of potential IPO