Ola’s Cab-Leasing Arm Swings To A Loss In FY16

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Ola Fleet Technologies Pvt. Ltd, the cab-leasing arm of taxi aggregator Ola, has posted a loss of Rs 13.3 crore for FY16 compared to a profit of Rs 3.9 crore the previous year, show filings with the Registrar of Companies (RoC).

Sanchit Vir Gogia, Chief Analyst and CEO at Greyhound Research, said, “This is a relatively new business. It takes time to revive it, because it is capital-heavy. It will take at least 4-5 financial years for something [profitable] to come out of this business. We shouldn’t hit the panic button as of now.”

[VC Circle]

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