Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 309

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 309
---
 net revenue). Sales and marketing expenses also include allocated overhead. We expect that our sales and marketing expenses
will increase on an absolute dollar basis but vary from period to period as a percentage of net revenue for the foreseeable future.

General and Administrative

General and administrative
expenses primarily consist of personnel-related expenses for executive management and administrative functions, including finance and
accounting, legal, and human resources. General and administrative expenses also include certain travel expenses, professional service
fees, including legal expenses, rent expenses, office expenses, repairs and maintenance of office equipment and furniture, directors’
and officers’ insurance and other expenses. We further expect to continue incurring general and administrative expenses of operating
as a public company, including expenses for insurance, costs to comply with the rules and regulations applicable to companies listed on
a Nasdaq, costs related to compliance and reporting obligations pursuant to the rules and regulations of the SEC, investor relations,
and professional services expenses. We expect general and administrative expenses will reduce on absolute dollar basis owing to our efforts
to manage costs.

56

Finance Costs

Finance costs consist primarily
of interest on vehicle loans, finance leases and redeemable promissory note. Costs recognized on account of change in fair valuation of
preferred stock warrant liability, convertible promissory notes and derivative financial instruments and convertible promissory notes
are included. In addition, it also includes funds issue expenses, note issue expenses, bank charges, other borrowing costs.

Other (Income) and Expense, Net

Other (income) and expense,
net consists primarily of change in fair value of the convertible promissory note, SSCPN, derivative financial instrument and the unsecured
convertible note, interest income, (gain)/loss on sale of assets & assets held for sale, Loss on assets written off, loss on foreign
currency transactions and balances, gain on modification of finance leases, provisions written back, payable to customers written back
and other expenses.

Gain on troubled debt restructuring

Gain on troubled debt restructuring includes the
gain consists of gains on account of restructuring of loans from lenders and gains on account of concluded negotiations with vendors for
reduction in outstanding liabilities.

Results of Operations

The following table sets
forth our results of operations for the periods presented:

    Three months ended December 31,  
    Nine months ended December 31, 

    2024  
    2023  
    2024  
    2023 
  
    Net revenue 
    $2,449,