Breaking News: Zoomcar Q3 results: Revenue slips 19% to $2.4 mn, bottomline improves | Company Results – Business Standard
Bangalore-headquartered and NASDAQ-listed self-drive rental car company Zoomcar posted a 19 per cent decline in its December quarter net revenue to $2.4 million, while its adjusted EBITDA loss was $4 million compared to $5.2 million in the same period last year. Gross profit increased to a record $0.3 million compared to a gross loss of $0.3 million in the same period last year as a result of trip fulfilment cost reductions driven by collective improvements in efficiency and lower Host accident-related reimbursements that consistently showed improvement over fiscal 2023.
The improvement in adjusted EBITDA was because of a broad-based cost reduction and efficiency initiatives that reduced the cost of revenue, technology and development costs, and operating expenses.
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