PickMe sees 50% revenue growth in1Q’25/’26
View(s):PickMe, the ride-hailing app, has reported a consolidated revenue of Rs. 1.8 billion for Q1-2025/26, representing a sharp 50 per cent increase from Rs. 1.2 billion in the corresponding period of the previous financial year.
This strong performance is underpinned by a 43 per cent year-over-year growth in platform volume, supported by a record-high average of monthly unique users. Gross Transaction Value (GTV), representing the total value of trips and deliveries facilitated through the platform, grew 36 per cent to Rs. 16.6 billion compared to Rs. 12.3 billion in Q1 of the previous financial year, primarily driven by increased transaction volume, the company said in a media release.
PickMe’s operating profit surged 106 per cent to Rs. 602 million, compared to Rs. 292 million in the corresponding quarter of the previous year. The operating profit growth was driven by higher volumes, enhanced operating leverage, and strategic cost optimisation efforts, particularly in IT infrastructure. Sequential performance remained equally strong, with operating profit showing 13 per cent quarter-over-quarter growth, demonstrating sustained momentum from both volume expansion and improved cost structure. Net profit reached Rs. 437 million, marking a significant 96 per cent increase from Rs. 223 million in the corresponding period of the previous financial year.
“Our Q1 results demonstrate the strength of our platform and the effectiveness of our strategic initiatives,” said Ajit Gunewardene, Chairman of PickMe. “The healthy level of user engagement, combined with independent drivers registered with the platform, positions us well for continued growth while maintaining the service quality our customers expect.” Jiffry Zulfer, Founder and CEO of PickMe, added, “The 106 per cent increase in operating profit reflects our commitment to operational excellence and disciplined cost management. We’re particularly pleased with our IT infrastructure optimisation efforts, which are driving meaningful efficiencies across the platform.”
Hitad.lk has you covered with quality used or brand new cars for sale that are budget friendly yet reliable! Now is the time to sell your old ride for something more attractive to today's modern automotive market demands. Browse through our selection of affordable options now on Hitad.lk before deciding on what will work best for you!