Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 278

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 278
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27,868  
     13,225  
     78,259 
  
    Vietnam 
     -  
     -  
     -  
     17,873 
  
    Indonesia 
     45  
     2,238  
     3,946  
     5,618 

    $2,449,368  
    $2,421,438  
    $6,937,250  
    $7,717,064 

Contract balances

The
Company’s contract liabilities for consideration collected prior to satisfying the performance obligations is $689,018 and $716,091
as at December 31, 2024 and March 31, 2024 respectively. The Company has collected $659,650 as advance from customers during the
nine months ended December 31, 2024.

The
Company offers loyalty program, Z-Points, that results in the deferral of revenue equivalent to the retail value at the date the
points are earned. The Company had accumulated deferred revenue amounting to $29,369 and $96,710 as at December 31, 2024 and March
31, 2024, respectively in relation to Loyalty program.

Revenue recognized during the three months and nine months
ended December 31, 2024 which was included in contract liabilities balance at the beginning of the respective period amounts to $(13,488)
and $256,341 respectively ($NIL and $360,686 recognized during the three months and nine months ended December 31, 2023 respectively).

37

ZOOMCAR HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS (UNAUDITED)

    24
    Finance costs

The components of finance costs were as follows: 

    Three months ended December 31,  
    Nine months ended December 31, 
  
    (In USD) 
    2024  
    2023  
    2024  
    2023 
  
    Finance costs -other than related parties 

    Interest on vehicle loans 
    $68,032  
    $97,341  
    $230,116  
    $288,279 
  
    Interest on finance leases 
     180,841  
     152,659  
     448,050  
     469,140 
  
    Interest on subcontractor