OLX India turns profit as revenue jumps 59%

25 Oct 2017

In the Indian financial year 2016/17, OLX India, the Naspers-backed general classifieds platform for used goods, turned a profit for the first time, reported Economic Times. (In India the financial year starts on Apr. 1 and ends on March 31 the following year.)

According to the compulsory regulatory report for the FY2016/17 filed with the Registrar of Companies (RoC), OLX India earned a profit of $1.23 million U.S. (Rs 8 crore) on revenue of $14.2 million U.S. (Rs 92.5 crore) in the period.

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Radhika Sachdev