Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 130

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 130
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27 million and SSCPN issue expenses of $0.60 million. These costs were further offset by a reduction in interest on vehicle loans, interest on finance leases, other borrowing cost and bank charges by an amount of $0.23 million, $0.22 million, $0.16 million, and $ 0.05 million respectively. Finance Costs to related parties reduced due to decline in outstanding loan balances. Other (income) and expense, net

|                                   |     | For the Years Ended March 31, 
 2024                          |             |   |     | 2023 |            |   |     | Change |           |   |     | %      
 Change |     |   |
|:----------------------------------|:----|:------------------------------|:------------|:--|:----|:-----|:-----------|:--|:----|:-------|----------:|:--|:----|:-------|----:|:--|
| Other income, net                 |     | $                             | (11,316,472 | ) |     | $    | (2,043,556 | ) |     | $      | 9,272,916 |   |     |        | 454 | % |
| Other income from related parties |     |                               | (11,224     | ) |     |      | (15,804    | ) |     |        |    (4,580 | ) |     |        | -29 | % |

Other income was $11.32 million during the year ended March 31, 2024, versus other income of $2.04 million during the year ended March 31, 2023, an increase of $9.27 million or 454%. This increase is primarily due to non-cash gains related to the fair valuation of our convertible promissory notes and senior subordinated convertible promissory notes that converted to equity concurrently with the deSPAC in December 2023, resulting in a net gain of $10.44 million recorded during the year ended March 31, 2024 offset by a reduction of non-cash income related to fair valuation of preferred stock warrant liability to nil during the year ended March 31, 2024 compared to $0.42 million recorded during the year ended March 31, 2023. Other Income for the year ended March 31, 2024, includes $0.95 million of income generated from waiver of lock up restrictions on shares