Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 296

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 296
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     | $          | - |

The changes in fair value of the Series
A and Series B warrants are being recognized under ‘Change in fair value of derivative financial instruments’ within the Condensed
Consolidated Statements of Operations. Refer Note 31, Fair value measurements. The Company classifies cash flows related to derivative
liabilities as financing activities in the Condensed Consolidated Statement of Cash Flows. Further, the Company has reported the (gain)/loss
on fair value change of these derivative financial instruments under non cash adjustments to the cash flow from operating activities in
the Condensed Consolidated Statement of Cash Flows.

F-36 ZOOMCAR HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

| 23 | Revenue |

The components of revenue, net were as follows:

| (In USD)                 
 Revenue from services    |     | Three months ended 
 December 31,       
 2024               |           |     | 2023 |           |     | Nine months ended 
 December 31,      
 2024              |           |     | 2023 |           |
|:-------------------------|:----|:-------------------|----------:|:----|:-----|----------:|:----|:------------------|----------:|:----|:-----|----------:|
| Facilitation             
 revenue (net)            |     | $                  | 2,448,571 |     | $    | 2,421,438 |     | $                 | 6,894,511 |     | $    | 7,717,064 |
| Others                   |     |                    |       797 |     |      |         - |     |                   |       797 |     |      |         - |
| Other operating revenues |     |                    |         - |     |      |         - |     |                   |    41,942 |     |      |         - |
| Total                    |     | $                  | 2,449,368 |     | $    | 2,421,438 |     | $                 | 6,937,250 |     | $    | 7,717,064 |

| Revenue by geographical location |     | Three months ended 
 December 31,       |      2024 |     |   |      2023 |     |   | Nine months ended 
      December 31, 
              2024 |