<p class="title">Cab hailing app Ola is projected to become profitable during 2018-19, and report a net operating profit of over Rs 1,170 crore, according to a valuation report filed with the corporate affairs ministry.</p>.<p class="bodytext">This is expected to grow further to Rs 6,423.33 crore by 2020-21, the document showed.</p>.<p class="bodytext">The SoftBank-backed firm, which is privately held, had posted a net operating loss after tax of Rs 2,781.70 crore in 2016-17.</p>.<p class="bodytext">The valuation report was compiled by chartered accountancy firm Jain Ambavat and Associates. It formed a part of Ola's disclosure that was made public earlier this month through the filing.</p>.<p class="bodytext">Ola, which has operations in 110 Indian cities, is locked in an intense battle for leadership with US-based Uber.</p>.<p class="bodytext">The Bengaluru-based firm's investors include Tencent Holdings, Tiger Global, Sequoia India and Accel Partners US.</p>.<p class="bodytext">Recent reports suggest that Tiger Global is looking at offloading a part of its stake in Ola and that SoftBank might increase its shareholding in the company.</p>
<p class="title">Cab hailing app Ola is projected to become profitable during 2018-19, and report a net operating profit of over Rs 1,170 crore, according to a valuation report filed with the corporate affairs ministry.</p>.<p class="bodytext">This is expected to grow further to Rs 6,423.33 crore by 2020-21, the document showed.</p>.<p class="bodytext">The SoftBank-backed firm, which is privately held, had posted a net operating loss after tax of Rs 2,781.70 crore in 2016-17.</p>.<p class="bodytext">The valuation report was compiled by chartered accountancy firm Jain Ambavat and Associates. It formed a part of Ola's disclosure that was made public earlier this month through the filing.</p>.<p class="bodytext">Ola, which has operations in 110 Indian cities, is locked in an intense battle for leadership with US-based Uber.</p>.<p class="bodytext">The Bengaluru-based firm's investors include Tencent Holdings, Tiger Global, Sequoia India and Accel Partners US.</p>.<p class="bodytext">Recent reports suggest that Tiger Global is looking at offloading a part of its stake in Ola and that SoftBank might increase its shareholding in the company.</p>