Ola Cabs loss widens to Rs 662.4 crore in FY25

Ride-hailing services firm Ani Technologies, popularly known as Ola Cabs, has reported a widening of consolidated loss to Rs 662.4 crore in FY25, mainly due to a decline in sales, according to the companys regulatory filing shared by market intelligence firm Tofler on Friday.

Ride-hailing services firm Ani Technologies, popularly known as Ola Cabs, has reported a widening of consolidated loss to Rs 662.4 crore in FY25, mainly due to a decline in sales, according to the company's regulatory filing shared by market intelligence firm Tofler on Friday. The company had posted a loss of Rs 328.7 crore in the financial year 2023-24. Ola Cabs consolidated revenue plunged by about 42 per cent to Rs 1,170.9 crore in FY25 from Rs 2,011.9 crore in FY24. An email seeking comments from Ola did not elicit any immediate response. The company's revenue from the sale of services declined by about 38 per cent to Rs 1,147.9 crore from Rs 1,854.4 crore on a YoY basis. The product sales eroded by about two-thirds to Rs 90 lakh in FY25 from Rs 2.8 crore in FY24. The company's employee expenses were reduced by more than a third to Rs 205.2 crore in FY25 from Rs 333.8 crore in the year-ago period. According to Tofler analysis, the net worth of the company has almost halved to Rs 2,025.3 crore in FY25 from Rs 3,991.27 crore in FY24. On a standalone basis, Ola Cabs' loss widened to Rs 697.6 crore in FY25 from Rs 504.8 crore in FY24. ''Ani Technologies Private Limited, an online transportation network company (popularly known as Ola Cabs), reported its (standalone basis) revenues for the financial year 2024-25 as Rs 1,060 cr, a 44 per cent fall since the last financial year. ''The company further reported a net loss of INR 698 crore during the same fiscal. This is a 38 per cent increase from the last financial year,'' Tofler said.