Bengaluru: Ola which was founded by Aggarwal Bhavish reported the operating profit of Rs 89.8 Crore for its mobility business, the first since starting to operate a decade ago.
Financial data is accessed by the Tofler business intelligence platform.
The advantage is caused by close lid at the costs placed by the company, which fell 75% to Crore Rs 682 for fiscal which ended on March 31, from Rs 2,683 Crore in the previous year.
Operating income has dropped 65% to RS 689 Crore, from around RS 2,000 Crore, because of a pandemic.
“Because the valid Covid pandemic state and national locking imposed by the Indian government, the company’s revenue has had a severe impact,” Ola said in the report.
Last year, during the first wave, Ola said that its income had steamed 95%.
Aggarwal said in September the value of the company’s gross merchandise (GMV) has crossed the pre-pandemic level in the last week of August and the recovery of the second wave has been three times faster than the first wave.
For the first time, Ola Mobility Biz saw RS 90 crore operating profit
