India, Aug. 25 -- Rental car platform Zoomcar, which was erstwhile listed on Nasdaq, saw its net loss balloon 28% to $5.4 Mn in the quarter ended June 30, 2026 from $4.2 Mn in the previous year quarter.

Net revenue for the quarter remained largely flat at $2.4 Mn. The flat revenue came at the behest of a 10% YoY decline in gross booking value to $5.8 Mn in the quarter.

In a statement, the company said that the lower booking count during the quarter was deliberate. It attributed the decline to it pivoting its business model towards longer, high-value trips rather than volume.

Now, the company is targeting extended trips, as it claims that the same earn more than several short ones against broadly the same operational cost to serve. In l...