PickMe revenue up 51%, firm net profit
View(s):Digital Mobility Solutions Lanka PLC, owner of Sri Lanka’s ride-hailing platform PickMe, has reported Rs. 2.1 billion in revenue for Q2 FY25/26, a 51 per cent year-on-year increase marking the company’s strongest performance to date.
This performance was underpinned by record-high engagement from users and third-party drivers on the platform, resulting in a 53 per cent YoY increase in platform movements and a 23 per cent jump compared to the previous quarter, the highest sequential growth since Q2 FY23/24, the company said in a media release.
The company has announced the declaration of an interim dividend of Rs. 1.70 per share for FY25/26 (compared to an interim dividend of Rs. 1.00 per share for FY24/25), representing a payout ratio of 60 per cent.
Jiffry Zulfer, Founder CEO of PickMe, said: “This was a very encouraging quarter for the company. We saw strong momentum across every part of the business, from our core platform activity to the launch of new verticals. These results are a testament to the incredible effort from our teams and the trust our users and partners place in us every day.”
For the first half of FY25/26, revenue reached Rs. 3.9 billion, up 51 per cent from Rs. 2.6 billion a year ago. Gross Transaction Value (GTV) rose 45 per cent YoY to Rs. 37.6 billion, while platform volumes increased 48 per cent. Operating profit for Q2 climbed 86 per cent YoY to Rs. 704 million, and Rs. 1.3 billion for H1, up 95 per cent YoY, reflecting improved operating leverage and cost discipline. Net profit surged 84 per cent YoY to Rs. 514 million for the quarter, and Rs. 950 million for the half year, an 89 per cent increase over the previous year.
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