Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 127

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 127
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 ended December 31, 2023 under other expenses..

We further achieved savings
of $0.29 million for software support and maintenance charges due to optimization of cloud cost and google maps services which were comparatively
higher during the nine months ending December 31, 2023, owing to the higher spending on brand marketing which brought more customers on
the platform, increased searches without any material impact on booking. Further, there were cost savings of $0.40 million on account
of depreciation on tracking devices during the nine months ended December 31, 2024, as compared to nine months ended December 31, 2023,
since these devices were completely depreciated in the previous Fiscal year ending March 31, 2024.

Technology and Development

|                            |     | 2024 | Three months ended December 31, |     | 2023 |           |     | Change |          |   |     | %      
 Change |     |   |     | 2024 | Nine months ended December 31, |     | 2023 |           |     | Change |            |   |     | %      
 Change |     |   |
|:---------------------------|:----|:-----|--------------------------------:|:----|:-----|----------:|:----|:-------|:---------|:--|:----|:-------|----:|:--|:----|:-----|-------------------------------:|:----|:-----|----------:|:----|:-------|:-----------|:--|:----|:-------|----:|:--|
| Technology and development |     | $    |                         749,287 |     | $    | 1,261,101 |     | $      | (511,814 | ) |     |        | -41 | % |     | $    |                      2,385,988 |     | $    | 3,507,839 |     | $      | (1,121,851 | ) |     |        | -32 | % |

Technology and development
expenses totaled $0.75 million during the three months ended December 31, 2024, as compared to $1.26 million during the three months ended
December 31, 2023, a decrease of $0.51 million, or 41%. This decrease was driven by employee benefit costs reductions of $0.52 million.

Technology and development
expenses totaled $2.39 million during