The company’s profit after tax (PAT) rose to Rs 1.73 crore in FY25, compared to Rs 11 lakh in FY24, said the company in a release.
“We are coming back quicker after Covid-19, with our team delivering one of the strongest performances. We will be increasing our presence in cities such as Chennai, Hyderabad, and Delhi in the coming years,” said Rahm Shastry, chief executive officer of DriveU.
While revenues jumped significantly, the company managed to check its overall expenses to Rs 27.8 crore, up 13.5% from Rs 24.5 crore a year back. Its marketing expenses almost doubled on-year to Rs 4.56 crore in FY25. Employee benefit expenses rose to Rs 12.26 crore in FY25 from Rs 10.63 crore in FY24.
“In one of our major markets, Bengaluru, we are able to get only 7% of car owners to use our service. We will largely focus on improving our presence by promoting drivers on demand in the next few years,” said Shastry.
The company reported Rs 1.74 crore of earnings before interest, taxes, depreciation, and amortisation (Ebitda), up from Rs 1.08 crore in the previous year.
Founded in 2015, DriveU has raised around $8.8 million in equity money from a bunch of angel investors and Washington-based Capria Ventures.
