Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 126

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 126
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31, 2023,
a decrease of $0.59 million, or 28%. This decrease was driven by overall Company-wide efforts to drive greater operational efficiency.
Key drivers of the cost savings $0.40 million reduction in personnel costs including ESOP related costs (driven by headcount reductions
in India, and discontinuation of operations in Vietnam, Egypt and Indonesia during the three months ending December 31, 2024). Due to
discontinuation of operations in Egypt, Indonesia, and Vietnam there was a savings of $0.04 million during the three months ended in December
31, 2024, as compared to the three months ended December 31, 2023., under other expenses. Further, there were cost savings of $0.13 million
on account of depreciation on tracking devices during the three months ended December 31,2024, as compared to three months ended December
31, 2023, since these devices were completely depreciated in the previous Fiscal year ending March 31, 2024.

Cost of revenue was $4.22
million during the nine months ended December 31, 2024, as compared to $8.44 million during nine months ended December 31, 2023, a decrease
of $4.22 million, or 50%. This decrease was driven by overall Company-wide efforts to drive greater operational efficiency. Key drivers
of the cost savings include $1.29 million reduction in personnel costs including ESOP related costs (driven by headcount reductions in
India, and the closure operations in Vietnam, Egypt and Indonesia during the nine months ending December 31, 2024), Repair and maintenance
charges were reduced by $1.15 million during the nine months ended December 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. During the
nine months ended December 31, 2024 there is a savings of $0.32 million due to introducing direct settlement of Toll charges between host
and guest, a decrease of $0.26 million of uncollected customer charges which were paid to the Host by the Company as part of its business
customary practice. Due to discontinuation of operations in Egypt, Indonesia, and Vietnam there was a savings of $0.16 million during
the nine months ended in December 31, 2024, as compared to nine months