Rapido sees 2.5X growth in gross order value in Q2, revenue rises 46% in FY24

Rapido has recorded a 2.5X rise in gross order value (GOV) from widening its offerings to cabs earlier this year and a stable driver base.

The Bengaluru-based company reported Q2 FY25 GOV of Rs 2,461 crore compared with Rs 977 crore in the year-ago quarter, it said in a statement. GOV represents the total value of all orders placed within a particular period and is measured before any deductions.

Rapido also reported that the number of rides doubled year-on-year to 207 million compared with 106 million in Q2 FY24. This reflects a rising user base for the company, which competes with US-based Uber and Bhavish Aggarwal’s Ola Consumer.

Additionally, the company also reported a decline in losses during the July-September 2025 quarter to Rs 17 crore compared with Rs 74 crore in the previous year, helped by fixed cost optimisation.

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Rapido added that the software-as-a-service (SaaS) model it had introduced has helped the company maintain a stable driver-partner base. The platform transitioned from a commission-led model to provide its partners with a lifetime zero-commission structure, earlier this year in contrast to other models followed by aggregators.

The company also expanded its fleet to include cabs which helped diversify its product offerings and cater to a wider variety of users.

Rapido also reported a 46.3% rise in its FY24 revenue to Rs 648 crore compared with Rs 443 crore earned in the previous year, helped by a rise in the number of orders and GOV during the period.

The company also managed to cut down its net loss by 45% to Rs 370 crore compared with Rs 675 crore in 2023, helped by a blend of cost optimisation and growth initiatives.

“With the solid foundation established in FY24, Rapido is well-positioned to continue growing responsibly, expanding its user base, and enhancing long-term financial stability in the coming years,” the company said in a statement.