Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 898

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 898
---
31, 

    2024  
    2023  
    Change  
    % Change  
    2024  
    2023  
    Change  
    % Change 
  
    Other (income)/expense, net 
    $757,826  
    $(34,503,014) 
    $35,260,840  
     -102% 
    $(29,297) 
    $(10,377,735) 
    $10,348,438  
     -100%
  
    Other (income) from related parties 
    $-  
    $(5,548) 
    $5,548  
     -100% 
    $-  
    $(11,224) 
    $11,224  
     -100%

62

Other Expense was $0.76 million
during the three months ended December 31, 2024, versus other Income of $34.50 million during the three months ended December 31, 2023,
a reduction of $35.26 million or 102% This reduction is due to elimination of non-cash gain on account of change in the fair value of
convertible promissory note and SSCPN resulted in a net gain of $28.10 million during the three months ended December 31, 2023 as compared
to Nil during the three months ended December 31, 2024 due to conversion of these instrument into equity at the close of deSPAC during
the three months ended December 2023. Loss recognized on litigation settlement of $4.34 million during the three months ended December
31, 2024 as comparted to Nil during the three months ended December 31, 2023 was partially offset by the change in the fair value of derivative
financial instruments resulted in a gain of $ 5.47 million during the three months ended December 31, 2024 as compared to gain of $6.57
million during the three months ended December 31, 2023, Further There was a loss on extinguishment of redeemable promissory notes amounting
to $1.77 million during the three months ended December 31, 2024 as compared to Nil expenses recognized during the three months ended
December 31, 2023.

Other Income was $0.03 million during the nine months ended December
31, 2024, versus other income of