Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 115

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 115
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 savings $0.40 million reduction in personnel costs including ESOP related costs (driven by headcount reductions in India, and discontinuation of operations in Vietnam, Egypt and Indonesia during the three months ending December 31, 2024). Due to discontinuation of operations in Egypt, Indonesia, and Vietnam there was a savings of $0.04 million during the three months ended in December 31, 2024, as compared to the three months ended December 31, 2023., under other expenses. Further, there were cost savings of $0.13 million on account of depreciation on tracking devices during the three months ended December 31,2024, as compared to three months ended December 31, 2023, since these devices were completely depreciated in the previous Fiscal year ending March 31, 2024. Cost of revenue was $4.22 million during the nine months ended December 31, 2024, as compared to $8.44 million during nine months ended December 31, 2023, a decrease of $4.22 million, or 50%. This decrease was driven by overall Company-wide efforts to drive greater operational efficiency. Key drivers of the cost savings include $1.29 million reduction in personnel costs including ESOP related costs (driven by headcount reductions in India, and the closure operations in Vietnam, Egypt and Indonesia during the nine months ending December 31, 2024), Repair and maintenance charges were reduced by $1.15 million during the nine months ended December 31, 2024, by optimizing network of third-party vehicle garages, entering new pricing contract with these garages, and reducing accident rate by strengthening the Guest verification process. During the nine months ended December 31, 2024 there is a savings of $0.32 million due to introducing direct settlement of Toll charges between host and guest, a decrease of $0.26 million of uncollected customer charges which were paid to the Host by the Company as part of its business customary practice. Due to discontinuation of operations in Egypt, Indonesia, and Vietnam there was a savings of $0.16 million during the nine months ended in December 31, 2024, as compared to nine months ended December 31, 2023 under other expenses.. We further achieved savings of $0.29 million for software support and maintenance charges due to optimization of cloud cost and google maps services which were comparatively higher during the nine months ending December 31, 2023