3 insights to kick-start your day, featuring Ola’s bad year

Ola’s red sea In the news. Ola Cabs’ losses swell to INR3082 crore for FY22. Inside the news. Ride-hailing unicorn Ola’s much-delayed FY22 financials do not look rosy. At INR1350 crore, its revenue grew 49% while losses increased 132%. For every one rupee it earned, Ola lost INR2.3. That puts Ola’s cumulative losses over 11 years at INR20,500 crore. Ola’s FY22 was impacted by massive losses on failed initiatives such as Ola Cars and Ola Dash.