Ola posts first-ever operating profit of Rs 90 cr in FY21 amid pandemic

This, even as revenues declined 65% to Rs 690 cr amid Covid-19 lockdowns

Ride-hailing firm Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as its revenue declined 65 per cent to Rs 689.61 crore amid Covid-19 induced lockdowns.

ANI Technologies, the parent company of Ola, had reported standalone operating profit (profit before finance cost, depreciation, amortisation and tax or EBITDA) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the previous fiscal year, according to the regulatory documents sourced from business intelligence platform Tofler.

Ride hailing accounted for a majority share of the consolidated revenue