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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

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DerpySushi
DerpySushi
Porter2mo

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
Stealth1mo

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

DerpySushi
DerpySushi
Porter1mo

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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Rebel Foods Secures $210M in Series G Funding

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News Discussion7mo

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 🦄

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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...