BANGALORE, INDIA—Three years after launching its on-demand ride service in India, Uber says this country is its No. 2 market in terms of rides after the U.S. The India business is small relative to Uber’s global business, generating about $60 million in gross revenue per month and, after factoring expenses, losing around $30 million a month, say people with knowledge of its finances.
Uber in August estimated that it had surged ahead of the Indian incumbent, Ola, in terms of rides completed per week, according to a person at Uber. And there’s lots of room for growth, said Amit Jain, Uber’s India chief, in an interview with The Information last week.