Yulu’s FY25 revenue surges 97% as demand for its bike rentals rise amid q-com uptick
The electric bike maker and renting platform also managed to narrow its net loss for the period by 12% despite soaring expenses during the year ended March 31, 2025.
Bajaj Auto-backed Yulu on Wednesday reported a 97% rise in its annual revenue to Rs 241.8 crore in the year ended March 2025 as it sees strong adoption of its electric bikes amid growth in quick commerce deliveries. About 88.7% of the revenue came in from its rental services.
The company’s rise in revenue offset an uptick in expenses during this period, helping the company to cut its losses by 12% to Rs 126 crore compared to Rs 142.8 crore.
In FY25, the company reported a 36% rise in expenses to Rs 350.6 crore, primarily due to a rise in the cost of materials consumed.
The cost of materials consumed refers to the total value of raw materials actually used in production during a financial year. As of FY25, this stood at Rs 151.6 crore compared to Rs 99.2 crore in the year-ago period.
Earlier this year, in an interview with YourStory, Yulu’s Co-founder and CEO, Amit Gupta, noted that it sees around 85-90% of its revenue coming in from its Yulu DeX offering, which is tailored for gig workers and does not require a driving licence.
The company has quietly pivoted its offerings as it looked to enter new cities, focusing on its last-mile delivery services instead of its iconic bright blue bikes, which were used for personal commuting in cities like Bengaluru.
Yulu had also noted that it is scaling and deploying more bikes under its DeX offering as opposed to its personal commute vertical, trying to keep up with demand for its low-speed vehicles that are increasingly being used in last-mile deliveries by quick commerce delivery partners.
Edited by Affirunisa Kankudti