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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

2mo ago1.6K views

EternallyNonchalant

Porter1mo

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.

EvilCemetery

Stealth2d

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

EternallyNonchalant

Porter2d

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!

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KatiPatangFlipkart7mo

Porter is getting aquired

Heard porter is getting acquired by Mahindra logistics. Anyone else heard this news?

CaptainPlanetStealth17mo

IITians or Ponzi Schemers?

Context - Morning Context article on Teachmint https://themorningcontext.com/internet/teachmint-is-the-latest-edtech-on-the-verge-of-a-crisis

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