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Inc42

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Ola Cabs parent ANI Tech’s FY23 revenue crosses INR 2,500 Cr mark, loss declines to INR 772 Cr

Ola Financial Services recorded a net loss of INR 54.6 Cr in FY23, compared to a profit of INR 8.6 Cr in FY22. Ola's parent company, ANI Technologies, reduced its consolidated net loss by 49.2% to INR 772.2 Cr in FY23. Ola's sales increased by 63% to INR 1,987.5 Cr, while its net loss decreased by 64.8% to INR 1,082.5 Cr in FY23. Ola's rival, Uber India, saw its net sales rise by 54% to INR 2,666.1 Cr in FY23, with a loss of INR 311.3 Cr. Ola Electric is also planning an IPO to raise funds.

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