New Delhi: Riding app Ola (OLA) has launched the service of fast delivery of grocery, personal care, and pet care products in Bengaluru on a pilot basis. With this, Ola has entered the fast delivery e-commerce segment, Quick Commerce.
This company, which provides ride service through the app, is entering the field of such delivery with this pilot service. Sources said that Ola is launching its ‘Ola Store’ in Bengaluru on a pilot basis, starting from some key areas. The company will expand to major cities in India in the coming months.
Sources said the service aims to deliver in less than 15 minutes. When contacted, Ola declined to comment. Sources said the service is available on the Ola app and is being rolled out for select customers in Bengaluru.
The company turned profitable before the IPO
Ola’s parent company ANI Technologies has posted an operating profit of Rs 89.92 in the financial year 220-21. However, the company’s income declined 65 percent to Rs 689.61 crore. According to regulatory documents submitted by ANI Technologies, it has made an operating profit of Rs 89.82 crore on a standalone basis in the last financial year. Due to this, the company had a loss of Rs 610.18 crore in the last financial year.