Ola CEO Bhavish Aggarwal on Tuesday announced that Ola Cars has sold over 1,000 used cars over this weekend leading up to Dhanteras, during the company’s ongoing ‘Cars Carnival’ season sale.
Ola Cabs reported its first-ever operating profit in the year ended 31 March even as revenue growth slowed in a covid-hit year, according to the IPO-bound company’s filings with the ministry of corporate affairs.
The ride-hailing company swung to an operating profit of ₹89.82 crore from an operating loss of about ₹610.18 crore in the previous fiscal year.
Profitability was driven by a sharp fall in expenses for the company’s mobility business, Ola Cabs, to ₹682.8 crore in FY21 from ₹2,683.2 crore in the previous year.
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