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Ola launches ride hailing services at Ayodhya airport

By expanding its services to emerging tourist destinations and focusing on profitability, Ola reaffirms its position as a leading player in the mobility industry, poised for continued growth and innovation.

Edited By: Saumya Nigam @snigam04 New Delhi Published on: April 23, 2024 14:03 IST
ola, ayodhya, tech news,
Image Source : OLA Ola launches ride-hailing services at Ayodhya airport

Ola is a ride-hailing company that has made history by initiating cab operations at the Maharishi Valmiki International Airport in Ayodhya. This strategic move makes Ola to be the first cab service to come to Ayodhya Airport, and it’s a commitment towards expanding its services to emerging cultural and tourist destinations across India.

Founder Bhavish Aggarwal announced the news via LinkedIn that Ola will commence its operations at the Ayodhya airport. He further highlighted the dedication of the company to provide a seamless travel experience by establishing a dedicated pickup zone where the staff will be available round the clock to assist travellers.

Unlocking opportunities in Ayodhya

Aggarwal further emphasized Ayodhya's status as one of the rapidly growing cultural and tourist hubs of India, which has been attracting millions of visitors annually. 

He further expressed confidence that Ola's presence in Ayodhya would unlock significant growth opportunities and further enhance the travel experience for devotees and tourists.

Mission to serve 1 billion Indians

As Ola continues to work towards the mission of serving one billion Indians, the expansion into cities like Ayodhya will align it with broader goals by catering to diverse travel needs across the nation. This strategic move reflects Ola's commitment to leveraging technology and innovation to enhance mobility solutions for millions of customers.

Financial performance and growth

Ola's mobility business has demonstrated a remarkable financial performance in FY23 in India, which has reported a profit of Rs 250 crore when compared to a loss of Rs 66 crore in FY22.

The turnaround could be attributed to robust revenue growth, which will surge by 58 per cent to Rs 2,135 crore in FY23 from Rs 1,350 crore in FY22.

Focus on profitability

In FY23, Ola prioritized sustainable growth and profitability, by achieving positive EBITDA in its India mobility business by maintaining strong revenue growth. This strategic shift from Ola will highlight it’s commitment to delivering value to stakeholders while ensuring long-term financial sustainability.

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Inputs from IANS

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