Ola Consumer enhances profitability; full year EBITDA grows to ₹ 271 Cr

Bengaluru, 13 February, 2025: Ola Consumer today announced its financial results for the financial year ended March 2024. The Company has made strong and steady progress during FY 24 building one of India’s largest consumer platforms with growth and profitability at scale. Ola Consumer closed FY 24 with full year EBITDA profitability in the Mobility & Financial Services segments.

2024 Key performance highlights:

Full year EBITDA (excluding discontinued operations) grew significantly to ₹ 271 Cr from ₹ 87 Cr last year.
For the consolidated entity, the revenue from operations and other income for FY 24 stood at INR 2,368 crores as compared to ₹ 3,000 crores in FY 23.
ANI Technologies Standalone total revenue stood at 1,906 crores in FY 24 as compared to ₹ 2,135 crores in FY 23.

Ola Consumer has launched multiple growth initiatives across business verticals including:

Ride Hailing

The company launched premium ride-hailing services such as Prime Plus and has also expanded its two and three-wheeler ride-hailing service to increase penetration into Tier 2 and Tier 3 cities.
The company continues to push for EV fleets owing to their lower total operating cost, lower pricing to consumers, leading to higher demand, and attracting more drivers on the platform.
The company also launched its rewards program Ola Coin in August 2024 that provides users with incentives on every transaction made on the Ola platform across mobility, e-commerce, and logistics services.

ONDC

The company began pilots to expand into food delivery, groceries, and related commerce segments using the ONDC network. Ola currently fulfills over 80% of all last-mile logistics requests on ONDC. The company provides last-mile delivery services to its partners on ONDC, and plans to offer automated and AI enabled warehousing as a service to brands.
Ola Consumer is also focusing on onboarding sellers in order to build its catalog depth on ONDC, while its AI Shopping Co-Pilot will allow users & partners across platforms to experience a cohesive and integrated shopping experience.

Financial Services:

The company launched Ola Pay UPI, which uses UPI on the Ola Consumer App to pay for rides, food, and groceries. The company further expanded into personal loans under Ola Financial Services, capitalizing on its access to low risk, premium customers, through the Ola Consumer platform.