Uber is steadily gaining a strong foothold in India, posts marginal profit in first two years of operation. Ola, are you listening?
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The Indian unit of the taxi aggregator posted profits in both the years in India.
As per Registrar of Companies filing, the company that backs Uber India with marketing and support services posted profit of Rs 3.2 crore on income of Rs 69 crore in the year to March 2015. In 2014, Uber India Systems registered profit of Rs 7 lakh on income of Rs 2.2 crore.
However, some experts still believe that Uber India must be making losses, may be in other segments.
"Uber must still be making losses. The losses could be either parked in some other company within India or even abroad to help lower the tax burden. But this segment will surely make money sooner than retail ecommerce. Taxi app companies are more efficient in people and technology costs," Harminder Sahni, managing director of Wazir Advisors, told ET.
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Uber has huge plans for India as cofounder Travis Kalanick said the company could pump $1 billion investment.
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