Ola Consumer turns Ebitda profitable; revenue declines 21% in FY24

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Ola Consumer turns Ebitda profitable; revenue declines 21% in FY24 - Business Standard

Quick Summary:

The company began pilots to expand into food delivery, groceries, and related commerce segments using the Open Network for Digital Commerce (ONDC) network.

It provides users with incentives on every transaction made on the Ola platform across mobility, e-commerce, and logistics services.

The firm continues to push for electric vehicle (EV) fleets owing to their lower total operating cost and lower pricing to consumers, leading to higher demand and attracting more drivers onto the platform.