Didi Global Rebounds with Major Profit Milestone

China's ride-hailing giant, Didi Global, announced a net profit of 1.4 billion yuan for the quarter ending in June, a significant turnaround from a 300 million yuan loss a year earlier. Revenue saw a 4.1% increase, reaching 50.9 billion yuan.

China's leading ride-hailing company, Didi Global, disclosed on Wednesday that its net profit attributable to shareholders hit 1.4 billion yuan ($196.24 million) for the three months ending in June. This is a remarkable recovery from a 300 million yuan loss in the same period last year.

The company also reported a 4.1% rise in revenue, bringing the total to 50.9 billion yuan for the quarter. With one U.S. dollar equaling 7.1340 Chinese yuan renminbi, these figures mark a significant improvement for Didi Global.

(With inputs from agencies.)