Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 39

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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ENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

12Leases

The Company’s leases primarily include vehicles and corporate
offices which have been classified as finance leases and operating leases, respectively. The lease term of operating and finance leases
varies between 3 to 7 years. The lease agreements do not contain any covenants to impose any restrictions except for market-standard practice
for similar lease arrangements. In assessment of the lease term, the Company considers the extension option as part of its lease term
for those lease arrangements where the Company is reasonably certain of availing the extension option.

    The components of lease expense were as follows: 

    (In USD) 
    Three months ended December 31,  
    Nine months ended December 31, 
  
    Period ended 
    2024  
    2023  
    2024  
    2023 
  
    Finance lease cost: 

    Amortization of right-of-use assets 
    $-  
    $-  
    $-  
    $- 
  
    Interest on lease liabilities 
     180,841  
     152,659  
     448,050  
     469,140 
  
    Operating lease cost 
     85,570  
     127,399  
     280,140  
     387,681 
  
    Short term lease cost 
     328,932  
     43,691  
     501,855  
     123,364 
  
    Total lease cost 
    $595,343  
    $323,749  
    $1,230,045  
    $980,185 

Supplemental cash flow information related to leases was
as follows:

    (In
    USD) 
    For the Nine months ended 
    December 31,
 2024  
    December 31,
 2023 
  
    Cash paid for amounts included in the measurement of lease liabilities: 

    Operating cash outflows for operating leases 
    $259,503  
    $341,981 
  
    Financing cash outflows for finance leases      
    $1,603,626  
    $816,744 
  
    Right-of-use assets obtained in exchange for lease obligations: 

    Operating leases 
    $-  
    $- 
  
    Finance leases