Uber’s Asia Pacific head Pradeep Parameswaran is to get a global role. Parameswaran will head business development for the global ride-hailing company, in addition to leading its enterprise product and a new ‘fleets’ programme team, according to an ET report. The report adds that Parameswaran would also lead Uber’s newly created ‘fleets’ team.
Parameswaran took over as President of Uber India and South Asia in 2018 and has been a key member of Uber’s regional leadership team. He was responsible for leading the Rides operation across India and South Asia.
Uber India reported a consolidated revenue of Rs 2,666 crore in the financial year ended March of 2023 (FY23) on the back of a jump in its revenue from rides and supported services in India.
The company’s revenue from rides increased 74 percent to Rs 678 crore in FY23 as against Rs 388 crore last financial year. The firm’s revenue from support services was recorded at 1,977 crore, up 52 percent year-on-year (YoY), showed MCA filings sourced from data and research agency Tofler.
Uber India’s consolidated net loss in FY23 surged to Rs 311 crore, up nearly 59 percent, from Rs 196 crore the firm reported in FY22. The firm’s total expenses stood at Rs 3,145 crore in FY23 with a majority of the chunk going towards employee benefit expenses, which came in at Rs 2,078 crore.