Company: ZCARW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076590
Chunk: 69

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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to $0.15 million during the three months ended June 30, 2024 as compared to Nil during the three months ended June 30, 2025 due to repayment
of the same during November 2024 financing, Interest on vehicle loans and finance lease has reduced by $0.06 million and also penalty
on non payment of lease and loan has reduced by $0.05 million due to restructuring and partial payments of the liabilities.

Gain on troubled debt restructuring

    For the Three Months Ended
 June 30, 

    2025  
    2024  
    Change  
    Change % 
  
    Gain on troubled debt restructuring 
    $(72,912) 
    $    -  
    $(72,912) 
     100%

Gain on troubled debt restructuring
during the three months ended on June 30, 2025 was $0.07 million vs Nil during the three months ended on June 30, 2024. The gain on troubled
debt restructuring was on account of operating lease restructurings.

50

Other expense/(income), net

    For the Three Months Ended  June 30, 

    2025  
    2024  
    Change  
    Change % 
  
    Other expense/(income), net 
    $2,219,251  
    $(1,393,992) 
    $3,613,243  
     -259%

Other expenses were $2.22
million during the three months ended on June 30, 2025, versus other income of $1.39 million during the three months ended on June 30,
2024, an increase in expense of $3.61 million or 259%.

This increase in expenses
is due to recognition of non-cash expenses towards liquidated damages amounting to $ 2.54 million to the investors of December 2024 First
Closing and March 2025 Third Closing due to delay in registering of securities with SEC, expenses towards change in the fair value of
Atalaya note is $0.13 million during the three months ended June 30, 2025 as compared to gain of $1.36 million during three months ended
June 30, 2024.This increase in expenses is offset by gain on account of derecognition of subsidiary amounting to $0.40 million during
the three months ended June 30, 202