Rapido Hits ₹1,000 Crore Revenue Milestone in FY25 as Delivery Business Surges

Rapido recorded revenue from operations of ₹934 crore in FY25, up from ₹648 crore in FY24, as per consolidated filings with the Registrar of Companies.  

The year saw a 44% increase in operating revenue. Including interest income of ₹69 crore from investments, total income stood at ₹1,003 crore in FY25, compared with ₹579 crore a year earlier. 

Change in Revenue Mix 

The composition of revenue changed during the year. Delivery services generated ₹340 crore, a 28.3% rise from the previous year, making it the largest single contributor. 

Passenger-related platform revenue declined 23.5% year-on-year to ₹277 crore and accounted for 29% of total revenue. In FY24, passenger revenue had been the company’s largest segment. 

Subscription and Other Income 

Subscription income, collected from captains and users for ride passes and platform access, rose sharply to ₹275 crore in FY25.  

Revenue from passenger transportation services, where vehicles are directly operated by the company, stood at ₹21 crore.  

Advertisement income, largely from sponsored listings, was reported at ₹16 crore. Other operating income, including parking fee recoveries, amounted to ₹5 crore. 

Cost Structure 

Total expenses increased to ₹1,261 crore in FY25 from ₹1,066 crore in FY24. Payments and incentives to captains remained the largest expense item, accounting for around 40% of total costs.  

This expense rose 8.7% year-on-year to ₹500 crore. Employee benefit expenses increased 20% to ₹207 crore during the year. 

Operating and Overhead Expenses 

Advertising and promotion expenses stood at ₹252 crore in FY25. Research and development spending was ₹108 crore.  

Rent, legal and professional fees, along with other overheads, contributed to the overall rise in expenditure as operations expanded across services. 

Profitability Indicators 

Higher revenue helped reduce net losses despite rising costs. The company reported a net loss of ₹258 crore in FY25, compared with ₹371 crore in FY24, a reduction of 30.5%.  

Return on capital employed improved to negative 13.58%, while EBITDA margin improved to negative 19.59%. On a unit basis, operating revenue of one rupee required spending of ₹1.35. 

Read More:  Prosus to Acquire Stake in Ride Hailing App Rapido Following CCI Approval! 

Conclusion  

Rapido closed FY25 with stronger revenue growth and lower losses, supported by higher contributions from delivery and subscription income. Costs continued to rise, though margins and loss levels showed improvement year-on-year.