Zypp Electric post Rs 107 crore loss in in FY25

Despite a significant surge in scale, the Gurugram-based EV startup Zypp Electric reported a net loss of ₹107.5 crore for the fiscal year ended March 31, 2025 (FY25). This represents a 20% widening of losses compared to the ₹89.5 crore loss recorded in FY24.

The company’s financial statements highlight a “growth at a cost” phase as it aggressively expands its fleet to dominate India’s booming quick commerce and last-mile delivery sectors.

Financial Performance: FY25 Breakdown

Zypp Electric’s revenue crossed the ₹400 crore milestone for the first time, fueled by massive demand from partners like Zomato, Swiggy, and Zepto.

• Operating Revenue: Grew 50% to ₹438 crore (up from ₹293 crore in FY24).
• Net Loss: Widened to ₹107.5 crore.
• Expenditure: Total expenses surged 42% to ₹556 crore, driven largely by rider expenses and fleet maintenance.
• Unit Economics: For every ₹1 of revenue earned in FY25, the company spent ₹1.27.

Revenue Streams

Zypp operates as an EV-as-a-service (EVaaS) platform with two primary income drivers:

Operational Milestones

The 2025 fiscal year marked several “firsts” for the company as it prepared for a potential 2027 IPO:

• Fleet Expansion: The active EV fleet crossed 22,000 units across Delhi-NCR, Bengaluru, and Mumbai.
• Delivery Volume: Reached the milestone of 100 million deliveries since inception, with 47% now coming from the high-growth quick commerce sector.
• Profitability Push: In a late-2025 move to reach breakeven, Zypp laid off 10% of its workforce and achieved operational (EBITDA) profitability in July 2025.
• FleetEase.ai: Launched a SaaS-based fleet management platform to diversify revenue and help other operators optimize their P&L.

Comparison: The EV Logistics Race (FY25)

Zypp remains a top contender in a highly competitive market against rivals like Yulu.

“FY25 has been a landmark year… We’ve not focused much on growth but rather laid down the groundwork for a sustainable and profitable EV business. I see a much clearer line of sight of EBITDA profitability over the next 1-2 quarters.” — Akash Gupta, Co-Founder & CEO, Zypp Electric.