India's largest domestic hailing service, Ola, will reduce its massive losses

The Ola holding company ANI Technologies announced an annual net loss of almost 60 percent at Rs 1,160 crore for the fiscal year 2018-19 according to the financial data collected by the Tofler business intelligence platform.

As the two biggest companies in India–Ola in 2011 and Uber two years later–emerged they promised high wages and incredible incentives. But driver benefits soon began to fade away and the commissions o....