Ola, the company is offering its services to the people based on the app, has suffered a loss of Rs 2311 crore in the financial year 2015-16. Explain that the company has lost about Rs 6 crores daily due to advertising, publicity and expenditure on employees. What does the official say? • The Bangalore-based firm informed the ministry about the deficit that has increased three times since 2014-15 (796.11 million rupees). According to ANI Technologies, which runs Ola, the revenue of the company rose to Rs 758.23 crore during the financial year 2015-16, which was Rs 103.77 crore in the previous financial year. • Co-Founder, Aanchal Agrawal, Research and Analysts firm, Taffler said that the actual amount of losses has increased. • He said that in 2014-14, Ola used to spend around Rs 8.5 in the form of one rupee, which has reduced from 2015-16 to about 4 rupees. • The incentives that the company has recently concluded is possible that the loss margin has decreased further. Agarwal believes that the loss margin can come down to Rs 2-3 in the coming days, which is comparable to other e-commerce companies. • Ola stopped the service of its Taxicarity (TFS) in August 2016. • Ola has closed this company after 18 months of buying for $ 20 million. • Ola filing returns and said that the expenditure of employees increased by 5x to Rs 461.60 crore compared to 2014-15 which was 85.16 crore rupees. • Similarly, Ola spent Rs 437.89 crore on advertising and promotion in 2015-16 compared to Rs 99.84 crore. Also Read: India's 5 Cheapest Cars From Which You Can Choose To Buy How to Increase the Mileage of Your Vehicle? How to Wash Your Vehicles in Proper Way