Uber India posts ₹1,512cr loss as rides crash 89%
Business
Uber India just posted a huge loss of ₹1,512 crore for FY25, with its ride-hailing revenue crashing by 89% compared to FY24.
Even though gross commissions stayed flat, their net revenue dropped sharply—from ₹807 crore to just ₹88 crore.
Competition is heating up with players like Rapido
Rapido switched things up with a zero-commission subscription model in FY25, cut its losses by nearly a third and overtook both Uber and Ola in number of rides.
While Uber says demand is still strong, it's clear the competition is heating up fast.
Overall revenue up slightly on support services boost
Interestingly, despite the ride slump, Uber India's overall revenue nudged up slightly thanks to a big jump in support services.
Incentives for drivers also saw a 33% boost—showing how much the company is trying to stay relevant in this changing market.