Ola Valuation News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Ola posted Rs 2,800 crore revenue in the fiscal year 2022-23, while managing to cut its losses by almost 50 percent.

Smoke is billowing as the Tata Group continues to burn cash on its first ecommerce platform — Tata Cliq. Tata UniStore Ltd, which owns and runs Tata Cliq, saw its net losses rise in double digits and turnover drop more than 50% in fiscal 2022-23. The exit from certain categories of electronics is the reason behind the drop in revenues, per the companys filings. But how about the rise in losses? This and much more in todays ETtech Morning Dispatch.

The valuation cut comes at a time when a number of headline investors in multiple Indian startups have done the same, amid a global rout across public and private technology markets.

Vanguard disclosed a 51.6% reduction in the value of its shares in ANI Technologies, Ola's holding firm, as of the end of May 2023.

Ola Valuation: The valuation cut comes at a time when a number of headline investors in multiple Indian startups have done the same, amid a global rout across public and private technology markets.