Ola To Shut Down In UK, Australia, New Zealand, Focus On India Business

On a standalone basis, ANI Technologies, which comprises a ride-hailing business, has reported a narrowing of loss to Rs 1,082.56 crore in FY23 compared to a loss of Rs 3,082.42 crore in FY22.

Ride-hailing services provider Ola has decided to shut down operations in the UK, Australia and New Zealand and will continue to focus on India business, its promoter ANI Technologies said today.

The Softbank-backed company said that it sees immense opportunity for expansion in India.

"Our ride-hailing business is growing rapidly, and we remain profitable and segment leaders in India. The future of mobility is electric - not just in personal mobility, but also for the ride-hailing business and there is immense opportunity for expansion in India."