Rapido reports 2.5x increase in gross order value to Rs 2,461 cr in Q2FY25

Low-cost mobility platform reports more than two-fold increase in gross order value of Rs 2,461 cr in Q2 FY25

Ride-hailing startup Rapido on Thursday reported a loss of Rs 17 crore in Q2 FY25, a 77 per cent improvement from Rs 74 crore in the same period last year.

 

The low-cost mobility platform reported a gross order value (GOV) of Rs 2,461 crore in Q2 FY25, up more than two-fold from Rs 977 crore in Q2 FY24.

 

The number of ride orders doubled year-on-year to 207 million. The company said it “strategically optimised” its fixed costs, achieving a 50 per cent reduction on a per-unit basis without increasing its overall budget.

 

The company said it has increased market share and built long-term value through a “scalable and sustainable business model”. The company’s daily ride volume averages 2.6 million and 17 million monthly

 

 

The company’s expansion of cab services in January has broadened its service portfolio. Additionally, the introduction of a software-as-a-service (SaaS) model empowered driver-partners by enhancing their earnings. Rapido said its diversified offerings across bike taxis, autos, and cabs cater to a wide range of commuter needs.

 

GOV increased to Rs 4,257 crore in FY24 from Rs 2,419 crore in FY23. This growth was fueled by a 1.5x rise in ride orders, reaching nearly half a billion rides in FY24. The company said its ability to achieve these results amidst a competitive landscape reflects its deep understanding of market needs and its agile operational approach.

 

Rapido said its growth trajectory in FY24 was driven by a robust combination of service expansion and strategic marketing investments. It also maintained a disciplined approach to cost management. By identifying and optimising key cost areas, the company strengthened its operations, achieving a leaner and more resilient structure.

 

Rapido’s strategic focus will continue to be on sustainable growth, maintaining its low-cost, high-efficiency approach while expanding its service offerings. The company plans to invest in innovations across its three primary categories – bike, auto, and cab services – to cater to a wider spectrum of commuter needs.

 

Snapshot of Last Two Years' Performance

Particulars

Units FY22 FY23 FY24 YoY Growth Orders Mn 103 307 445 1.5x GOV Crs 680 2,419 4,257 1.8x Revenue Crs 145 443 648 1.5x Loss Crs -440 -675 -370 -45%