Rapido narrows losses in FY24 as scale grows; firm says GMV surged 2.5X in Q2FY25

Swiggy-backed ridesharing platform Rapido posted a 46% rise in operating revenue in the last fiscal year at Rs 648 crore backed by its entry into new businesses and increased customer bookings.

The company also narrowed its net loss by 45% to Rs 371 crore from Rs 674 crore in FY23, according to financial statements sourced from Tofler. Lower expenses drove the improved financial performance.