Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 126

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 126
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| Cost of revenue |     | $                         | 10,331,595 |     | $ | 20,675,611 |     | $ | (10,344,016 | ) |     |     |    -50 | % |

Cost of revenue was $10.33 million during the year ended March 31, 2024, as compared to $20.68 million during year ended March 31, 2023, a decrease of $10.34 million, or 50%. This decrease was driven by overall Company-wide efforts to drive greater operational efficiency beginning in January 2023. Key drivers of the cost savings include $3.78 million reduction in personnel costs (driven by headcount reductions in India, Egypt and the closure of Vietnam as well as a $0.44 million decrease in ESOP related costs in the year ended March 31, 2024), a decrease of $1.52 million of uncollected customer charges which charges were paid to the Host by the Company as part of its business customary practice, $0.91 million of cost rationalization in our call centers for India primarily via enhanced chat bot options creating a better experience for our Host and Guest directly and we also adjusted our toll and fuel policies, such that Guests are directly responsible for these costs, thereby reducing the need of call center agents . Repair and maintenance charges were reduced by $0.54 million during the year ended March 31, 2024 by optimizing network of third party vehicle garages, entering new pricing contract with these garages, and reducing accident rate by strengthening the Guest verification process. 69 We further achieved savings of $0.38 million for rent charges due to the termination of leases associated with parking lots that are no longer needed since we developed an in-app feature enabling Hosts and Guests to communicate directly on vehicle location and delivery and another $0.34 million by changing the operating model of home delivery services such that delivery fees are collected by Zoomcar directly and paid to Hosts. Further, there was cost savings across our international markets other than India on account of reduced travel cost, ground staff cost and call center costs amounting to $0.15 million, $0.29 million and $0.58 million respectively, during the year ended March 31, 2024 versus the year ended March