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In brief: Ola’s losses narrow, while revenue grows 61%

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Johnny Huff
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India’s ride-hailing firm Ola has narrowed its consolidated losses to US$427.2 million and posted revenue growth of 60.9 percent for FY 2018.

In a battle for dominance against rival Uber, Ola had previously registered losses of US$736.2 million for FY 2016-2017.

Aside from ride-hailing, Ola and Uber compete in the food-delivery space through Foodpanda and UberEats, respectively.

In 2018, Ola forayed into international markets such as Australia, the UK, and New Zealand, where it also competes with Uber.

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