Ola announces ex-Unilever executive Hemant Bakshi as new CEO – ET Auto

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The company cut down its losses by about 50% to INR 772 crore in FY23 against INR 1,522 crore in FY22. Ola Money registered INR 85.5 crore revenue with a loss of INR 54.6 crore.

New Delhi: ANI Technologies, the parent company of Ola, has announced Hemant Bakshi, a former executive at Unilever, as the new Chief Executive Officer (CEO) of Ola, according to media reports.

Bhavish Aggarwal will step down as part of the company’s effort to streamline operations.

Prior to joining Ola, Bakshi was the executive Vice President (VP) of the marketplace and chairperson of Unilever Indonesia. He joined Ola and moved back to India about four months ago, media reports said.

Meanwhile, Ola posted INR 2,800 crore revenue in the fiscal year 2022-23, while managing to cut its losses by almost 50%.

ANI Technologies registered a 42% growth in revenue to INR 2,799 crore in FY23, compared to INR 1,970 crore in FY22, as per the audited financial results available on Ola’s website.

The company cut down its losses by about 50% to INR 772 crore in FY23 against INR 1,522 crore in FY22. Ola Money registered INR 85.5 crore revenue with a loss of INR 54.6 crore.

The cab leasing firm Ola Fleet Technologies’ revenue was INR 189.9 crore with INR 387.6 crore loss in FY23.

  • Published On Jan 26, 2024 at 12:18 PM IST

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