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.