- Total revenues of $6.2 million, compared to $15.7 million in the prior fiscal year, primarily as a result of fewer newly facilitated automobile purchases and automobiles sold due to the adverse effects of the COVID-19 pandemic on online ride-hailing and the greater transportation industry as public travel restrictions were instituted
- Significant decrease in revenues from automobile sales was offset by a $2.1 million increase in operating lease revenues from automobile rentals as Senmiao shifted its focus to this business in direct response to the pandemic, as well as $0.9 million in revenues from its online ride-hailing platform, which launched in October 2020 and has seen a significant ramp over the past several months, which is expected to continue given new and expanded partnerships and plans to expand to other cities
- From October 23, 2020, the date Senmiao launched its online ride-hailing platform, to March 31, 2021, 4.4 million rides were completed through the platform with fares paid by riders totaling $12.4 million
- Net cash used in operating activities from continuing operations of $2.2 million, compared to $4.5 million in the prior fiscal year
Infosys To Develop Quantum Computing Capabilities On AWS
Infosys (NSE: INFY) (BSE: INFY) (NYSE:INFY), a global leader in next-generation digital services and consulting, today announced a strategic collaboration with Amazon Web Services (AWS) to
