Ola, India’s largest cabhailing service, reported a sizeable jump in losses in fiscal year 2017 (FY17). While net revenue rose by Rs 6.77 billion over FY16 revenue to Rs 11.78 billion, operating loss widened by Rs 9.11 billion to Rs 37.31 billion. Losses, which exclude net interest income, tax and notional losses on derivatives contracts, were well over three times revenue. In fact, as a proportion of revenues, Ola’s losses are far higher than other global cab-hailing service providers. In 2017, Uber’s operating loss was roughly half its net revenue, according to a report by The Information. Lyft, Uber’s main competitor in North America, is estimated to have ended the year with losses of around 60 per cent of revenue....