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Ola losses narrow to Rs 2,842 cr for FY18; revenue zooms 61%

Ola, the ride-hailing platform has now halved more than the consolidated loses Rs 2842.2 crore, while growing the revenue by almost 61% during the fiscal year 2018, according to the report which has been revealed.

Ola, which is as of now locked in the battle for the market leader in the Indian market against the Uber, has now also registered the loss of Rs 4897.8 crore in the Fiscal year 2017.

According to the report which has been revealed, Ola has now also narrowed its standalone losses significantly to Rs 2676.7 crore while the revenues were up by 44.6% to Rs 1860.6 crore in the year 2018.

Ola has previously reported that it is now on a path to make the business profitable.

Ola which is founded in 2011 by the Bhavish Aggarwal and Ankit Bhati, Ola provides the services in more than 110 cities and claims to have more than 10 lakh driver partners across the auto rickshaws, cabs, and taxis on its platform.

Picture Credits: Ola

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