Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 142

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 142
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-to-peer sharing model.

After the transition to the
peer-to-peer sharing model, we took several measures to improve profitability, such as (i) reduction of cash incentives paid to Hosts
and (ii) introduction of penalties for Host and Guest on cancellation of booking. These and other cost rationalization strategies resulted
in improved unit profitability at the expense of reducing booking days growth, resulting in lower Booking Days and GBV for the year ended
on March 31, 2024 versus the year ended March 31, 2023.

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Costs and Expenses

|                                                    |     | For the Years Ended March 31, |       2024 |     |   |       2023 |     |   |      Change |   |     |     |      % 
 Change |   |
|:---------------------------------------------------|:----|:------------------------------|-----------:|:----|:--|-----------:|:----|:--|------------:|:--|:----|:----|-------:|:--|
| Cost of revenue                                    |     | $                             | 10,331,595 |     | $ | 20,675,611 |     | $ | (10,344,016 | ) |     |     |    -50 | % |
| Technology and development                         |     |                               |  4,345,748 |     |   |  5,176,391 |     |   |    (830,643 | ) |     |     |    -16 | % |
| Sales and marketing                                |     |                               |  5,767,036 |     |   |  6,734,205 |     |   |    (967,169 | ) |     |     |    -14 | % |
| General and administrative                         |     |                               | 17,245,096 |     |   | 12,695,839 |     |   |   4,549,257 |   |     |     |     36 | % |
| Impairment of balances with government authorities |     |                               |  3,875,767 |     |   |          - |     |   |   3,875,767 |   |     |     |    100 | % |
| Total costs and expenses                           |     |                               | 41,565,242 |     |   | 45,282,046 |     |