Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 141

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 141
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 | -703 | % |

Net Revenue

|                        |     | For the Years Ended March 31, |      2024 |     |   |      2023 |     |   |    Change |   |     |     |      % 
 Change |   |
|:-----------------------|:----|:------------------------------|----------:|:----|:--|----------:|:----|:--|----------:|:--|:----|:----|-------:|:--|
| Income from rentals    |     | $                             |         - |     | $ |   165,834 |     | $ |  (165,834 | ) |     |     |   -100 | % |
| Revenues from services |     |                               | 9,836,434 |     |   | 8,586,785 |     |   | 1,249,649 |   |     |     |     15 | % |
| Other revenues         |     |                               |    60,799 |     |   |    73,587 |     |   |   (12,788 | ) |     |     |    -17 | % |
| Net Revenue            |     |                               | 9,897,233 |     |   | 8,826,206 |     |   | 1,071,027 |   |     |     |     12 | % |

Our total net revenue for
the years ended on March 31, 2024, and March 31, 2023 was $9.90 million and $8.83 million, respectively, representing an increase of $1.07
million, or 12%. Total number of Bookings, Booking Days and GBV declined by 23%, 18% and 19%, respectively, in the year ended March 31,
2024 versus the previous comparable period, however, our GAAP net revenue increased 12% in the same year as the total incentive payments
treated as contra-revenue during the year ended March 31, 2023 was $3.85 million versus $0.88 million during the year ended March 31,
2024. During the year ended March 31, 2023, we provided higher cash incentives for our Hosts and Guests to increase our available supply
of cars and attract Guests to use our platform which reduced revenue. These various strategies were targeted towards making a successful
transition to the peer