Rapido, India’s leading low-cost mobility platform, has reported a strong financial performance for the second quarter of the fiscal year 2025 (Q2FY25). The company achieved a remarkable 2.5x increase in Gross Order Value (GOV) to INR 2,461 Crores, up from INR 977 Crores in the same period last year. This growth was driven by a doubling of ride orders to 207 million, indicating increased user engagement and a larger user base.
Despite this significant growth, Rapido managed to reduce its quarterly losses to INR 17 Crores, a significant improvement from the INR 74 Crores loss in Q2FY24. This achievement was made possible by a 50% reduction in fixed costs on a per-unit basis, without compromising the overall budget.
Rapido’s strong performance can be attributed to its ability to scale its operations efficiently and its focus on building a sustainable business model. The company’s daily ride volume now averages 2.6 million, serving 17 million passengers monthly through a network of ~2 million drivers. This solidifies its position as India’s largest ride-hailing platform by order volume.
The company’s expansion of cab services in January and the introduction of a Software-as-a-Service (SaaS) model for driver-partners have further contributed to its growth. These initiatives have enhanced driver earnings and satisfaction, leading to a more stable driver base.
Looking back at FY24, Rapido achieved a ~2x increase in GOV to INR 4,257 Crores, driven by a 1.5x rise in ride orders to nearly half a billion. This growth was fueled by strategic marketing campaigns, service quality improvements, and disciplined cost management.
As Rapido moves forward, it aims to continue its sustainable growth trajectory by investing in innovations across its bike, auto, and cab services. The company remains committed to providing affordable, reliable transportation solutions to a wider range of commuters and strengthening its leadership position in the Indian ride-hailing market.
