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Ride-hailing unicorn Rapido reported a milestone year in FY25, with its annual revenue crossing the ₹1,000-crore mark for the first time, even as the company significantly reduced losses—signalling improving operating leverage amid business diversification.
According to data from market intelligence platform Tracxn, Rapido’s revenue rose 44.2% year-on-year to ₹1,002.87 crore in FY25, compared with ₹695.26 crore in the previous fiscal. The growth came alongside a sharp narrowing of losses, underscoring tighter cost controls and better unit economics.
Net loss for the year declined 30.3% to ₹258.44 crore from ₹370.72 crore in FY24. EBITDA losses also improved by a similar margin, falling 30.6% year-on-year to ₹252.83 crore, reflecting operational efficiencies as the company scaled up.
Employee-related expenses increased to ₹207.01 crore in FY25, up nearly 20% from ₹172.47 crore a year earlier, as Rapido continued to invest in talent, technology, and product development to support expansion across mobility and emerging business verticals.
Rapido generates revenue primarily through commissions charged on rides completed on its platform across two-wheelers, three-wheelers, and four-wheelers. However, this core platform-led income accounted for 29% of total revenue in FY25 and declined 23.5% year-on-year to ₹277 crore.
In contrast, the company’s delivery business gained momentum during the year. Revenue from food and parcel delivery services—where customers pay Rapido to transport goods using its network of captains—grew 28.3% to ₹340 crore, making it the company’s largest single revenue stream. Passenger ride revenue, which was the biggest contributor in FY24, was overtaken by delivery services in FY25.
The shift highlights Rapido’s evolving business mix, as the company increasingly leans on logistics and delivery to drive growth while continuing to strengthen its core mobility platform.
