Rapido almost halves losses to Rs 370 crore in FY24

NEW DELHI: Rapido, the ride-hailing platform based in Bengaluru, has reportedly halved its losses to Rs 370 crore for FY24, down from Rs 675 crore the previous year. This marks the third consecutive year of losses for the company, which posted a loss of Rs 440 crore in FY22.

Despite the losses, Rapido’s revenue grew significantly, reaching Rs 648 crore in FY24, a 46.3% increase compared to Rs 443 crore in FY23. The company also highlighted a substantial rise in its Gross Order Value (GOV), which nearly doubled to Rs 4,257 crore in FY24 from Rs 2,419 crore in FY23.