IANS | 12 Jan, 2024
Bhavish Aggarwal-led Ola Electric reportedly sold more than 8,200
scooters to its parent company ANI Technologies till December 2023,
which plans to launch and expand its electric bike taxi service in
several Indian cities, a media report has said.
However, the
company did not disclose the related party transactions in its DRHP for
an IPO worth over Rs 7,000 crore, which was filed in December last year,
reports Mint.
The draft papers carried Ola Electric’s financial statements till June 30, 2023.
"Till
date, 8,206 Ola Electric scooters have been registered under ANI
Technologies for its e-bike, parcel and other delivery services. In
total, 2.17 per cent of our overall registrations till date have been
under ANI Technologies,” an Ola Electric spokesperson was quoted as
saying.
Further, the report, citing sources, said that the number
of e-scooters sold to Ola Cabs' parent and its subsidiaries between
April 2022 and December 2023 was even higher -- about 12,000 units.
Meanwhile,
Ola has posted Rs 2,800 crore revenue in the fiscal year 2022-23, while
managing to cut its losses by almost 50 per cent.
ANI
Technologies registered a 42 per cent growth in revenue to Rs 2,799
crore in FY23, compared to Rs 1,970 crore in FY22, as per the audited
financial results available on Ola's website.
The company cut down its losses by about 50 per cent to Rs 772 crore in FY23 against Rs 1,522 crore in FY22.
Ola Money registered Rs 85.5 crore revenue with a loss of Rs 54.6 crore.
