Ola sells over 1,000 used cars over Dhanteras weekend: CEO

FPJ Web DeskUpdated: Wednesday, November 03, 2021, 06:06 PM IST
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Last week Ola had announced a pre-owned car festival – Ola Cars Carnival- with deals and offers on 2000+ cars on Ola Cars platform./ Representational Image |

Ola CEO Bhavish Aggarwal announced that Ola Cars has sold over 1,000 used cars over this weekend leading up to Dhanteras, during the company's ongoing 'Cars Carnival' season sale.

He tweeted about it:

The company last week had announced pre-owned car festival – Ola Cars Carnival- with deals and offers on 2000+ cars on Ola Cars platform.

As part of this festive offer, customers can avail discounts of upto Rs 1 lakh, as well as several industry first offers like free servicing for upto 2 years, a 12 month warranty, and a 7-dayreturn policy.

Ola reports first-ever operating profit of Rs 90 cr

On November 2, Ola reported its first operating profit of Rs 89.82 crore for 2020-21, even as its revenue declined 65 per cent to Rs 689.61 crore amid COVID19 induced lockdowns.

As per regulatory documents filed by ANI Technologies - the parent company of Ola- it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.

Ride hailing accounted for a majority share of the consolidated revenue for the IPO-bound company.

ANI Technologies, which also has food delivery and financial services offerings, saw its operational loss narrowing to Rs 429.20 crore in FY21, while revenue declined 63 per cent to Rs 983.15 crore on a consolidated basis.

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