Bengaluru: Low-cost mobility platform Rapido on Thursday reported a 2.5x increase in Gross Order Value (GOV), reaching Rs 2,461 crores in Q2FY25, up from Rs 977 crores in Q2FY24.

Notably, Rapido reduced its losses to Rs 17 crores from Rs 74 crores in the previous year, showcasing its strong commitment to building a sustainable business model while scaling rapidly.

Rapido’s momentum continued into Q2FY25, with a 2.5x jump in GOV, reaching Rs 2,461 crores  compared to Rs   977 crores  in Q2FY24.

The number of ride orders doubled year-on-year to 207 million, reflecting both a larger user base and higher engagement levels.

Alongside these gains, the company strategically optimized its fixed costs, achieving a 50% reduction on a per-unit basis without increasing its overall budget.

"This strong performance is a result of Rapido’s ability to not only increase market share but also build long-term value through its scalable and sustainable business model," the company said in a statement.

The company’s daily ride volume now averages 2.6 million, serving 17 million passengers monthly through ~2 million drivers, further solidifying its position as India’s largest ride-hailing platform by order volume.

Expansion of cab services in January has broadened its service portfolio.

Additionally, the introduction of a Software-as-a-Service (SaaS) model empowered driver-partners by enhancing their earning potential, resulting in a more satisfied and stable driver base.

Rapido also diversified offerings across bike taxis, autos, and cabs cater to a wide range of commuter needs.

“By focusing on driving operational efficiencies through growth initiatives at 50% reduction in fixed cost per order and making strategic, purposeful investments in new categories and marketing campaigns, Rapido demonstrates that rapid growth can go hand-in-hand with financial discipline,” the company said.