Rapido, a leading low-cost mobility platform in India, has reported impressive financial results for the second quarter of fiscal year 2025, demonstrating significant growth and operational efficiency. The company achieved a remarkable 2.5x surge in Gross Order Value (GOV), reaching INR 2,461 crore, while significantly reducing its losses, underscoring its focus on sustainable growth alongside rapid expansion.

The company’s GOV soared to INR 2,461 crore in Q2 FY25, a considerable increase from INR 977 crore in the same period last year. This growth was driven by a two-fold rise in ride orders, indicating a broader user base and increased engagement. Simultaneously, Rapido achieved a 50% reduction in fixed costs per unit, showcasing its commitment to operational efficiency. This resulted in a significant reduction in quarterly losses, down to INR 17 crore from INR 74 crore in the previous year.

“This strong performance is a result of Rapido’s ability to not only increase market share but also build long-term value through its scalable and sustainable business model,” the company stated.

Rapido's daily riders

Rapido’s daily ride volume now averages 2.6 million, serving 17 million passengers monthly through a network of approximately 2 million drivers. This solidifies the company’s standing as India's largest ride-hailing platform based on order volume. Rapido's expansion into cab services in January, coupled with the introduction of a Software-as-a-Service (SaaS) model for driver-partners, has further diversified its offerings and enhanced driver earnings.

“By focusing on driving operational efficiencies through growth initiatives at 50% reduction in fixed cost per order and making strategic, purposeful investments in new categories and marketing campaigns, Rapido demonstrates that rapid growth can go hand-in-hand with financial discipline.”

This strategic approach, combining growth initiatives with a focus on operational efficiency, underscores Rapido's commitment to building a sustainable and profitable business model within the competitive Indian mobility market.