CosmicTaco
CosmicTaco

Porter Reports Rs 2,734 Cr Revenue in FY24; Losses Dip 45%

  • Porter, an on-demand intra-city logistics company, saw its revenue spike 56% in FY24, crossing Rs 2,700 crore.
  • The company managed to cut its losses by 45%, bringing them under Rs 100 crore.
  • Fleet operator costs formed 82.8% of total expenses, growing 50% to Rs 2,369 crore.
  • Employee benefits expenses rose 24.3% to Rs 237.36 crore, including Rs 6.69 crore in ESOP expenses.
  • Despite rising expenses, Porter improved its EBITDA margin by 638 BPS to -2.89% and reduced operating cash outflows by 48.5%.

Source: Entrackr

Post image
8mo ago
Talking product sense with Ridhi
9 min AI interview5 questions
Round 1 by Grapevine
DerpySushi
DerpySushi

Lovely! While they are focusing on minting money their culture is going to dogs. I hope founders wake up in time to realise this and sort this out.

PrancingBagel
PrancingBagel

Is the culture that bad?? I have an interview with them this week👀

DerpySushi
DerpySushi

Depends a lot on which team you are going into. I wouldn’t say culture is bad. It is not what it was before. Now that company is getting bigger dilution is unavoidable. There are a few things which I personally as an employee feel should have been sorted which aren’t. It can be that for others these things are trivial!

Discover more
Curated from across
News Discussion
by SillyDonutTCS

3rd Unicorn 🦄 of 2024

After krutrim, perfios, Porter is the 3rd startup which has turned unicorn 🦄

It has solved some problem for sure unlike krutrim

I remember, when I moved to blr...it was a life saviour.

Such startups deserve to be an unicorn 🦄

Post image
Top comments
user

Porter is actually amazing. I use them at least once a month and they’re so on point One of the guys who made G...

user

Another fellow Koramangala based company rocking it

user

This is the best way to raise money. Ask friends and family for money at 1B valuation. Now, when investors ask for ...