Ola projected to turn profitable by FY19, rake in $1 bn by 2021

Ola, India’s largest ride-hailing start-up, is projected to turn profitable by 2018-19 and rake in $1 billion as profit by 2021, according to an independent agency the company employed to value it.

The projections, part of the company’s valuation report dated March 18, 2017, stated that the company would achieve a net operating profit after tax (NOPAT) of ~1,170.49 crore in 2018-19. In the subsequent two years, profits after tax would grow to ~3,326.99 crore and ~6,423.33 crore, respectively.

The report, compiled by Jain Ambavat & Associates in March, was part of Ola’s disclosure to the Registrar of Companies and was made public last week.