Ola narrows losses in Q3, but revenue slides 55% YoY

Ola reported a mixed third quarter, with the ride‑hailing company reducing its losses even as top‑line performance weakened sharply. The company posted a net loss of Rs 487 crore, an improvement from Rs 564 crore a year ago, while revenue fell 55 per cent year‑on‑year to Rs 470 crore. EBITDA loss also narrowed to Rs 271 crore from Rs 460 crore in the same quarter last year, reflecting tighter cost controls despite a significant decline in operating income.