Zypp Electric revenue up 50% to ₹455 crore in FY25
Zypp Electric
reported revenue of approximately ₹455 crore for the financial year 2024-25, marking a 50 per cent increase from ₹302 crore in FY24. The
electric mobility
and last-mile logistics platform said it expects to achieve EBITDA profitability within the next one to two quarters.
During the year, Zypp Electric completed 100 million deliveries, with quick commerce contributing 47% of the deliveries, up from 30% in FY24. The company said it saved 45 million kg of carbon emissions through its operations. It also expanded its fleet, with Delhi NCR growing 16% to over 12,000 vehicles, Bangalore increasing 31% to more than 5,000 vehicles, and Mumbai operations launching with 2,400 active vehicles. Zypp's 3-wheeler business crossed a fleet size of 900 EVs, supporting last-mile logistics through driver rentals.
The company said it focused on streamlining its technology stack, standard operating procedures and team structure during the year. It introduced a new software platform for fleet acquisition, management, and P&L tracking, as well as Zypp Advertising Services to allow brands to advertise on vehicles and rider accessories.
Partnerships and future plans
In FY25, Zypp Electric strengthened its partnerships with EV original equipment manufacturers (OEMs), battery-swapping firms, and fintech leasing providers. The company said these collaborations helped improve vehicle supply, offer cost-effective leasing, and enhance fleet uptime.
Akash Gupta
, Co-Founder and CEO of Zypp Electric, said, 'FY25 has been a landmark year for us. We've not focused much on growth but rather laid down the groundwork for a sustainable and profitable EV business. While revenue grew from ₹302 crore to ₹455 crore (pre-audited), I see a much clearer line of sight of EBITDA profitability over the next 1-2 quarters, looking at several interventions done in FY'25 for tech, team, partnerships & pushing sustainable growth levers."
"We continue to focus on market leadership from the existing 3 markets to more markets in the coming FY'26 while keeping a strong eye on profitability. We continue to ride the EV & Quick commerce tailwind & enable thousands of delivery partners to upgrade from ICE vehicles to EV vehicles on an easy rental plan without any high downpayment & EMI hassle backed with maintenance & charging/swapping services on their fingertips which enable them to save ₹5-6k extra over a petrol vehicle via Zypp Electric rental platform,' he added.
The company also launched a pilot training programme for EV mechanics and technicians as part of its efforts to strengthen the supporting ecosystem.
Zypp Electric said higher fleet utilisation, expanding revenue verticals, and cost optimisation efforts have placed it on course for achieving EBITDA breakeven in the near term.
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