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.

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