Ola on Thursday said its mobility business in India has turned EBITDA positive in FY23.
For the consolidated entity, revenue from operations and other income for FY’23 stood at ₹3,000 crore as compared to ₹2,120 crore in the previous year. For the consolidated entity, EBITDA loss excluding discontinuous business reduced to ₹29 crore in FY23 from ₹291 crore a year ago, said ANI Technologies, the holding company.
ANI Technologies’ Standalone total revenue has gone up by 48% in FY23 to ₹,2135 crore from ₹1,350 crore in the previous year. The segment also adjusted EBITDA of ₹250 crore in the last fiscal, the company said.
“As Ola’s India Mobility business turns profitable in FY23, it is a testament to the resilience and innovation that has defined our journey,’‘ said Hemant Bakshi, new CEO of Ola Mobility.
Bhavish Aggarwal, founder, and MD and Chairman, Ola said, Ola Electric sold over 4,00,000 EVs 8,000 of which were sold to Ola Mobility.
“India’s economic growth is unstoppable and we aspire to serve 1 billion Indians,’‘ Mr. Bhavish said while addressing mediapersons here.
