Ola Cabs Monthly Income In 2022

By insane mind Mar 12, 2022, 10:07 IST

Ola is not in the business of making money right now. Rather, it is attempting to seize market share through a novel method and exploitative pricing. Because it is not a publicly traded firm, no detailed information about its revenue and expenses is available.

However, even at the current fare, they have enough money to keep their business running.
According to sources, Ola cabs charges taxi operators a commission of 10-15% on average. According to a report I saw in Economic Times, this may be as high as 20%. Ola, on the other hand, has yet to make a profit.

The amount raised by it till now includes:

  • $210 million from SoftBank Corp Series D
  • 250 crore ($41.8 million) from Steadview Capital and  Sequoia Capital Series C
  • $20 million(as per media reports) + $3.2 million from Matrix Partners and Tiger Global Series B
  • $5 million from Tiger Global Series A

Ola is currently valued at $1bn(Rs 6100cr).

How Much Money & Bonuses Ola Cabs Pay:

After completing a single ride, Ola gets a ten percent fee on the overall bill, which is determined by the Ola app itself. Ola also offers bonuses, which are listed below.

Timing of Peak Hours: (7 am to 12:30 pm and 5 pm to 11 pm are considered as peak hours)

  • Bonus On-Peak Hours – Whenever you finish a ride during peak hours, you will receive a bonus of 250INR to your account, and the amount of rides you accomplish during peak hours is entirely up to you. During peak hours, you will receive a bonus of 250INR for each ride.
  • Bonuses On Airport Drop – If you drop a customer off at an airport, you will receive 800INR in your account.
  • Bonuses on 12 Ride Completing – If you accomplish 12 rides in a single day, you will receive a bonus of 4500INR in your account.

 

How much can I earn by investing with Ola?

When questioned an Ola cab driver about their payment, and this is what We came up with.

  • The money you pay for your trip is split between the cabbie and the corporation. The majority of the money goes to the driver, with a little percentage going to the corporation (say 10 percent )
  • Aside from the fare you pay, the corporation gives the driver a daily incentive based on the number of rides he takes.

It's about as follows:

  • 14 rides a day- Rs 6000(per day)
  • 12 rides a day-Rs 4000
  • 8 rides a day -Rs 2000
  • less than 8 rides- Nothing

So an Ola cab owner's income (if he drives himself) is calculated as a percentage of each ride's fare + a company-provided incentive.

Due to severe traffic, it is unusual for a driver to complete 14 journeys in a single day. However, if he takes 12 rides each day, his daily earnings would be Rs.4000 plus fare.

That works out to about Rs 130000 each month.

Typically, the fare he earns is used to cover the cost of fuel. Ola's business approach appears to indicate that they are not looking for earnings right now, but rather for brand recognition and to become a household name. (They have a lot of money, so it shouldn't be a big deal.)

Reduce the driver's income by 30K if the owner is not the driver. Even yet, the owner earns roughly Rs 90000.

Is doing business with OlaCabs profitable?

Yes, you can invest in OLA or form a relationship with them.
OLA is now doing well, and many large industrialists have expressed interest in investing in the company.

Recently, the Tata group has also invested in OLA, indicating that the company is doing well. When we consider the offerings made by all of these new enterprises, such as merucabs, zoomcar, and taxi4sure, by infusing VC cash... These firms are thriving, and they are all performing admirably.