Nasdaq-Listed Zoomcar’s India Entity Sees Loss Triple To INR 237 Cr In FY23

Nasdaq-Listed Zoomcar’s India Entity Sees Loss Triple To INR 237 Cr In FY23

SUMMARY

Zoomcar India posted a net loss of INR 237 Cr in FY23, a jump of 221% from INR 74 Cr in the previous fiscal year

Zoomcar India’s operating revenue declined 27% to INR 69.1 Cr in FY23 from INR 94.9 Cr in the previous fiscal year

Shares of Zoomcar, which started trading on Nasdaq on December 29, 2023, have gained 38% since its listing

Zoomcar, which listed on Nasdaq last month following the completion of a special purpose acquisition company (SPAC) merger, saw its India entity’s net loss surge over 3.2X in the financial year ended March 31, 2023.

Zoomcar India posted a net loss of INR 237 Cr in the financial year 2022-23 (FY23), a jump of 221% from INR 74 Cr in the previous fiscal year. 

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