ANI Technologies, the parent company of the popular ride-sharing platform Ola, has recently shifted its leadership structure significantly. Hemant Bakshi, formerly associated with Unilever, has been appointed as the new Chief Executive Officer (CEO). This move is part of the company’s broader strategy to enhance its operational efficiency.

Bhavish Aggarwal, former CEO, has stepped down from his position, making way for Bakshi’s leadership. Before this appointment, Bakshi played a pivotal role at Unilever, serving as the Executive Vice President (VP) and the chairperson for Unilever Indonesia. Approximately four months ago, he made a transition back to India to join Ola, as reported by various media outlets.

In terms of financial performance, Ola has shown promising results in the fiscal year 2022-23. The company reported a substantial revenue of Rs 2,800 crore, marking a significant improvement in its financial health. This represents a 42 per cent increase from the previous fiscal year’s revenue of Rs 1,970 crore, as confirmed by the certified financial statements available on Ola’s website.

Moreover, the company has successfully reduced its losses by more than half. The figures indicate a decrease in losses to Rs 772 crore in FY23, a considerable reduction from Rs 1,522 crore in FY22. Ola Money, a component of the company’s financial services, contributed Rs 85.5 crore to the income, despite incurring a loss of Rs 54.6 crore.

Furthermore, Ola Fleet Technologies, another arm of the company, recorded a revenue of Rs 189.9 crore. However, it faced a deficit of Rs 387.6 crore in the same fiscal year.

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