Ola's parent entity ANI Technologies post Rs 2,800 cr revenue, up 42% YoY in FY23

ANI technologies report FY23 numbers

ANI Technologies, the parent entity of Ola Fleet, Ola Financial Services and Ola Stores has reported a consolidated revenue of Rs 2,799 crore, up nearly 42% year-on-year despite a reduction in revenue from Ola Fleet and Ola Financial Services.

The firm reported a net loss of Rs 772 crore in FY23 as against a loss of Rs 1,522 crore last financial year.

Ola Financial Services reported a revenue of Rs 85 crores in FY23, a reduction of 22% from Rs 110 crores in FY22. The financial services arm has reported a loss of Rs 54 crores.

Ola Fleet Services which is Ola's cab-leasing arm reported a revenue of Rs 189 crores in FY23 down nearly 57% as it recorded a revenue of Rs 437 crore in FY22. The firm reported a net loss of Rs 387 crores in FY23 which has come down from the Rs 467 crore it reported in FY22.

This comes a day after Ola's direct rival Uber reported FY23 numbers. Uber India reported a consolidated revenue of Rs 2,666 crore in the financial year ended March of 2023 (FY23) on the back of a jump in its revenue from rides and supported services in India.

Ola Electric, the EV manufacturing and selling arm's consolidated revenue stood at Rs 2,782 crore, up nearly 510 percent, in FY23, but its net loss widened to Rs 1,472 crore, double of Rs 784 crore that it reported in FY22.