Ola’s net loss narrows to Rs 772 crore in FY23; total accumulated loss crosses Rs 20k crore

ANI Technologies, which operates under the Ola brand, on Thursday said its consolidated net loss narrowed to Rs 772.25 crore in FY23. The company had posted a consolidated loss of Rs 1,522.33 crore in FY22. Consolidated revenue from operations increased by about 48% to Rs 2,481.35 crore in FY23 from Rs 1,679.54 crore in FY22.

Meanwhile, former Unilever Plc official, Hemant Bakshi, was appointed as the CEO of Ola Mobility. On a standalone basis, ANI Technologies, which comprises ride-hailing business, reported a narrowing of loss to Rs 1,082.56 crore in FY23 compared to a loss of Rs 3,082.42 crore in FY22.