Can Ola, Uber merger help the Indian firm cut mounting losses?

Ola founder Bhavish Aggarwal. Photo: Bloomberg

Ola, India’s largest cabhailing service, reported a sizeable jump in losses in fiscal year 2017 (FY17). While net revenue rose by Rs677 crore over FY16 revenue to Rs1,178 crore, operating loss widened by Rs911 crore to Rs3,731 crore. Losses, which exclude net interest income, tax and notional losses on derivatives contracts, were well over three times revenue.

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