Uber, the ride-hailing major, has announced its financial results for the quarter ended 31st March and it shows a pre-tax gain of $154 million posts the sale of Uber Eats’ India business to online food delivery major Zomato. 

On a pre-tax gain of $154 million, Uber Eats India’s other transactions and related costs amounted to around $10 million, a company statement mentioned. 

The overall revenue of Uber rose 14 per cent year-on-year to $3.54 billion in the quarter that ended in March. The company, however, posted a loss of $2.9 billion during that period which included a $2.1 billion pre-tax write-down of the value of some of its minority investments. 

India’s loss and revenue figures were not mentioned in the statement.

Commenting on the company’s performance during these three months, Dara Khosrowshahi, Uber CEO said, “While our rides business has been hit hard by the ongoing pandemic, we have taken quick action to preserve the strength of our balance sheet, focus additional resources on Uber Eats, and prepare us for any recovery scenario.”

Uber had resumed its operations in 31 cities of India after the government allowed cab-hailing apps and taxis to operate from 4th May in green and orange zones. Whereas its rival Ola has started commuting across 100 cities. Their operations were on halt due to the nationwide lockdown which began on 24th March. 

This also comes in the backdrop of Uber being under process of letting go of nearly 500-700 employees from its India office in the next two weeks.