ANI Technologies, the parent company of ride-hailing giant , on Wednesday reported its loss in the financial year ended March 2022 had widened from the previous fiscal year even as revenue nearly doubled.
The company reported a total consolidated loss of Rs 1,522.33 crore in FY22, compared with a loss of Rs 1,116.61 crore a year ago.
Its total income rose 81.5% to Rs 2,119.95 crore.
The rise in income was offset by an increase in the company’s total expenses which accumulated to Rs 3,362.13 crore—up 67.5% from a year ago, its filing with the Registrar of Companies showed.
Costs related to vehicle operation and promotional advertising—categorised under ‘other expenses’ in Ola’s financial statement—saw an almost two-fold rise compared to the previous year.
(The story will be updated with more details.)
Edited by Kanishk Singh
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