Ola announced that its India mobility business has turned earnings before interest, tax, depreciation, and amortisation (Ebitda) positive in 2022-23 (FY23), making it one of the few Indian internet companies to achieve this feat.
The SoftBank-backed company also named Hemant Bakshi as chief executive officer of Ola Mobility, leading its mobility business with an aggressive growth focus on ride-hailing, financial services, logistics, and e-commerce.
For the consolidated entity, the revenue from operations and other income for FY23 stood at Rs 3,000 crore compared to Rs 2,120 crore in 2021-22 (FY22).
