Ola Consumer achieves profitability in mobility, financial Services, EBITDA jumps to Rs 271 crore in FY24

Ola Consumer

Ola Consumer, which runs the cab-hailing service, said it achieved profitability at the Ebidta level in the mobility and financial services segment in FY24.

Full-year EBITDA (earnings before interest, tax, depreciation, and amortisation), excluding discontinued operations, tripled to Rs 271 crore for FY24 from Rs87 crore the previous year, the Bengaluru-based company said in an emailed statement on February 13.

For the consolidated entity, revenue from operations and other income stood at Rs 2,368 crore in FY24 compared with Rs 3,000 crore in the previous fiscal year, the company said in an emailed statement on February 13. Parent ANI Technologies’ standalone revenue stood at Rs 1,906 crore in FY24, down from ₹2,135 crore in the previous year.

Ola Consumer has expanded its ride-hailing offerings, introducing premium services such as Prime Plus and expanding its two- and three-wheeler mobility services in Tier 2 and Tier 3 cities. It continued to induct electric vehicles into its fleet, citing their lower operational costs and increased demand. In August, Ola launched Ola Coin, a rewards programme that offers incentives for transactions across its mobility, e-commerce, and logistics services.

Ola has also begun pilots in food delivery, grocery, and commerce segments through the ONDC network, where it currently fulfils over 80 percent of last-mile logistics requests. The company aims to onboard more sellers and integrate AI-driven warehousing services.

In financial services, Ola introduced Ola Pay UPI, allowing payments for rides, food, and groceries. It has also expanded into personal loans, targeting low-risk, premium customers on its platform.