Ola inching closer to profitability, may float IPO in two years: Report

While Ola's high cash burn, owing to its fierce fight with Uber, is a dampener, some of its recent bets on newer areas make it attractive

Ola, the Indian cab hailing major and Uber’s main competitor in the country, has its fingers in a lot of things: core taxi business, two-wheeler transportation and logistics, and a full-fledged e-mobility venture. In a new development, the $7 billion Bengaluru-based firm is said to be looking at an initial public offering, or IPO, in two years.

According to a report in financial newspaper Mint, Ola is inching closer to profitability and may just churn out a small bottomline in its FY19 financials, which it hasn’t been released so far. In FY18, ANI Technologies, which operates the Ola brand, had losses