Cab Aggregator Ola Starts Earning From Each Ride
In the financial year 2016-2017, the cab aggregator Ola showed losses of around Rs 4,897 crore. In the last year, it saw losses of over Rs 2,313 crore. But now, the company is finally gearing up in terms of growth and profitability.
It has been reported that the cab company has started earning on every cab ride that it offers. This amount is calculated after taking into account other expenses including driver incentives and customer discounts. And this is how the company is overlooking considerable targets for profitability.
"We will continue to focus on profitable and sustainable growth, and building a growing profitable business, the first in Indian internet," said Ola CEO Bhavish Aggarwal.
With this, Ola will be earning profits on every ride that Ola complet...