Gurugram headquartered inter-city bus service startup YoloBus has clocked approximately INR 4 Cr loss in the FY20. According to the regulatory filings, the company’s exact loss amount stands at Rs 40,759,968. The company’s revenue for the same financial year stood at approximately Rs 3.5 Cr, with the regulatory filing showing that the exact revenue amount at Rs 35,661,881.
With YoloBus ending FY20 with loss, the company’s expenses obviously surpassed its revenue. The Gurugram based startup’s total expenses in the FY20 stood at INR 7.6 Cr (Rs 76,421,849).
When YoloBus files the financial year statement for FY21 this year, its balance sheet is likely to show some adverse impact of a pandemic on its business. Nationwide lockdown enforced by Covid-19 lockdown had literally brought the entire private transportation industry to a grinding halt.
Additionally, regulatory filings show that in May last year YoloBus had allotted 889 ESOS (Employee stock options) at a face value of Rs 1 each to co-founder & CTO Danish Chopra. This constitutes roughly 1% of the company’s issued capital.
It must be noted that last year YoloBus had raised $3.3 Mn in a Series A round led by Nexus ventures. India Quotient had also participated in the funding round.
According to the regulatory filings, YoloBus had allotted 3127 series A convertible non-cumulative preference shares of face value of Rs 3 each and at a premium of Rs 45,122.49. Out of 3127 series, 1897 shares were allotted to Nexus Ventures and 1230 shares has been allotted to India quotient.
Some of the Yolo Bus competitors Zingbus, Orange Tours and Travels and Gujarat Travels.