Sunday, March 3

Tag: profitability

Cab Aggregator Ola Starts Earning From Each Ride
News

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...
Zara Owner Inditex Improves Profitability Despite Sturdy Euro
BUSINESS

Zara Owner Inditex Improves Profitability Despite Sturdy Euro

One of the world’s largest fashion retailers Inditex, that also owns the very famous fashion brand Zara has announced on Wednesday about the improvements in its profitability for the beginning three months of the current financial year. Without being affected by all the negative currency effects, the retailer managed to increase profits. However, inadequate sales growth in the first quarter of the year discouraged the investors, along with negative currency effects and unseasonably cold weather in Europe. Because of these events, the quarterly growth rate was a mere 2 per cent, lower than rates booked during the financial crisis. But further, it has also been reported that the sales of the company were very strong in the first six weeks of the second quarter. The sales were raised by...