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Ola’s mobility business reports Rs 250-cr profit in FY23 after Rs 66-cr loss in FY22

Business Today

Business Today · 1y

Ola’s mobility business reports Rs 250-cr profit in FY23 after Rs 66-cr loss in FY22

Ola's India mobility business has turned profitable, reporting a standalone profit of Rs 250 crore in FY23 after a loss of Rs 66 crore in FY22. The company's revenue also grew by 58% to Rs 2,135 crore in FY23. Ola's CEO, Hemant Bakshi, outlined three growth pillars for the company: premiumisation, penetration, and electrification. The company plans to expand its multi-city Prime plus experience, focus on asset finance, and leverage electrification to offer affordable rides in the 2W segment.

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