Ride-hailing startup Rapido narrows losses by 45% in FY24, operating revenue jumps 46%

Ride-hailing startup Rapido, which competes with Ola and Uber in India, has cut its losses by 45 per cent while operating revenue has jumped 46 per cent during the financial year 2023-24. The company on Thursday said its year-on-year (YoY) losses narrowed to Rs 370 crore in FY24 from Rs 675 crore in FY23 and revenue from operations increased to Rs 648 crore from Rs 443 crore during the said period.