Ride-hailing app Rapido recorded a loss of Rs 371 core in fiscal 2024, 45% lower than last year. By the second quarter of fiscal 2025, its gross order value has reached Rs 2,461 crore, compared to Rs 977 crore in the same period last year.The number of ride orders doubled year-on-year to 20.7 crore.The ride-hailing app said it has optimised its fixed costs, achieving a 50% reduction on a per-unit basis without increasing its overall budget. This…

NDTV Profit

Rapido Trims Losses By 45% In FY24, Ride Orders Reach 20.7 Crore In FY25

On the back of substantial jump in gross order value (GOV), low-cost shared mobility service provider Rapido has narrowed down its losses in July-September quarter (Q2) of the current financial year 2024-25 (FY25).

The Munsif Daily

Rapido narrows down losses to Rs 17 cr in Q2 as ride orders double

On the back of cost cutting measures across the board, ride hailing giant Rapido trimmed its losses by more than 45% year-on-year (YoY) to INR 370 Cr in the financial year 2023-24 (FY24) compared to INR 675 Cr in the previous fiscal year. In a statement, the startup attributed the reduced losses to a “disciplined approach to cost management” and by optimising key cost areas.  Meanwhile, the company claimed that its losses reduced by more than 77…

Inc42 Media

Rapido FY24: Losses Decline 45% YoY To INR 370 Cr

Ride-hailing firm Rapido reported a 2.5x year-on-year growth in its gross order value (GOV) to Rs 2,461 crore in Q2 FY25 from Rs 977 crore in Q2 FY24. During this period, the company also saw a two-fold increase in rides to 207 million. It's worth noting that Rapido already claims it is now the second-largest ride-hailing service after Uber, surpassing Ola in the bike, auto, and cab segments. According to Rapido, its streamlined cost structure c…

Entrackr

Rapido claims 207 Mn rides in Q2 FY25 with 2.5x surge in GOV

Ride-hailing firm Rapido reported a 2.5x year-on-year growth in its gross order value (GOV) to Rs 2,461 crore in Q2 FY25 from Rs 977 crore in Q2 FY24. During this period, the company also saw a two-fold increase in rides to 207 million. It’s worth noting that Rapido already claims it is now the second-largest ride-hailing service after Uber, surpassing Ola in the bike, auto, and cab segments. According to Rapido, its streamlined cost structure c…

fundingblogger.com

New Delhi: On the back of substantial jump in gross order value (GOV), low-cost shared mobility service provider Rapido has narrowed down its losses in July-September quarter (Q2) of the current financial year 2024-25 (FY25). The company on Thursday said that its loss in the September quarter of the current financial year stood at Rs 17 crore as against Rs 74 crore in the corresponding period of the previous financial year 2023-24. Rapido saw it…

Goa Chronicle

Rapido narrows down losses to Rs 17 cr in Q2 as ride orders double - Goa Chronicle

Bangalore, 14th November 2024:  Rapido, India’s leading low-cost mobility platform, has announced significant strides in its financial performance for Q2FY25, marking a quarter of accelerated growth and operational optimization. The company reported a remarkable 2.5x increase in GOV, reaching INR 2,461 Crores in Q2FY25, up from INR 977 Crores in Q2FY24. Notably, Rapido reduced its […] The post Rapido Reports Strong ~2.5x YoY Growth in GOV reachi…

passionateinmarketing.com

Rapido Reports Strong ~2.5x YoY Growth in GOV reaching INR 2,461 Crs through 207 Mn rides in the recent quarter, and Strengthening Leadership in India’s Ride-Hailing Market - Passionate In Marketing

Rapido Trims Losses By 45% In FY24, Ride Orders Reach 20.7 Crore In FY25

Coverage Details

Bias Distribution

Ownership

Similar News Topics

Similar News Topics