Ola Financial Services, the financial arm of Ola, achieved profitability in the fiscal year ending March 31, 2022. The company posted a standalone net profit of Rs 8.68 crore in FY22, a significant turnaround from its Rs 56.2 crore net loss in the previous fiscal year, according to media reports.
Operating revenue witnessed substantial growth, surging by 157 per cent to Rs 110 crore in FY22 compared to Rs 42.8 crore in the prior fiscal year.
Ola Financial Services operates Ola Money, which comprises three key products; Ola Money Postpaid, Ola Money Credit Card, and OlaMoney Wallet.
It is one of the leading mobility platforms, is also expanding into electric vehicles and other related services.
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