Ola Set to Beat Uber, Reports 70% Growth in Revenue
India's leading cab-hailing company Ola, run by ANI Technologies Pvt Ltd. has reported a phenomenal 70% jump in revenue in the year that ended 31 March 2017 as reported in its latest annual regulatory filings.
As per the filings under the ministry of corporate affairs, Ola has recorded a revenue of Rs. 1,286 crore in 2016-17 when compared to Rs. 758.23 crore in the previous year.
Ola is battling competition against San Francisco based cab hailing giant Uber which has expanded rapidly in India since it first launched its service in the country nearly five years ago. The interesting part is that both these companies e backed by Japanese conglomerate SoftBank Group Corp.
The latest numbers are indicative of the fact that Ola has managed to hold its worth against Uber in India over pa...