Zypp Electric revenue jumps 50% to Rs 455 Cr in FY25, eyes EBITDA profitability in coming quarters

Electric mobility platform Zypp Electric on Monday said its revenue rose by around 50% to Rs 455 crore in 2024-25 from Rs 302 crore in the year-ago period, further strengthening its position in the rapidly growing e-mobility and last-mile logistics space.

It also said that the company expects EBITDA (earnings before interest, taxes, depreciation and amortisation) profitability in the next one or two quarters.

Zypp's fleet operations during the previous fiscal witnessed significant growth across key cities with Delhi NCR seeing a 16% increase, expanding to over 12,000 vehicles while Bangalore achieved a 31% surge, and is now operating more than 5,000 vehicles, Zypp said.

At the same time, in Mumbai, where the company launched its operations in FY25, the active fleet strength has already touched 2,400 vehicles, it said, adding the company also scaled up its three-wheeler business and crossed 900 units in the wheeler space, catering to last-mile logistics via the driver rentals business.

In this process, Zypp Electric completed its 100 million deliveries since the launch of its delivery segment, the company 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 Rs 302 crore to Rs 455 crore (pre-audited), There seems to be a clear line of sight of EBITDA profitability over the next 1-2 quarters," said Akash Gupta, Co-Founder & CEO of Zypp Electric.

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The platform continues to focus on market leadership from the existing three markets to more markets in the coming FY'26 while keeping a strong eye on profitability, he said.

"We continue to ride the electric vehicle and quick commerce tailwind and enable thousands of delivery partners to upgrade from ICE vehicles to EV vehicles on an easy rental plan," he said.

The growth in deliveries was driven by quick commerce, which accounted for 47% of these deliveries, up from 30% in FY'24 while the platform also empowered over 1.2 lakh gig delivery partners to boost their earnings via a daily rental EV tech platform equipped with swapping & technician services, it said.

The company also said during the previous fiscal, it made strategic strides across technology, operations, and expansion besides introducing a SaaS platform, an end-to-end software solution for fleet acquisition, management, and fleet-wise P&L tracking, it said.

With higher fleet utilisation, expanding revenue verticals, and a sharp focus on cost optimisation, Zypp Electric is now on track to achieve EBITDA breakeven in the coming months, the company said.