Zypp Electric Reduced FY26 Net Loss by 45% to ₹60 Crore

EV logistics provider Zypp Electric has significantly reduced its net loss for the fiscal year 2025-26, reporting a consolidated loss of ₹59.7 crore. This marks a 44.4% improvement compared to the ₹107.5 crore loss recorded in the preceding fiscal year.

The company's operating revenue saw a modest increase of 5.2%, reaching ₹461 crore for FY26, up from ₹438.1 crore in FY25. Including other income, Zypp Electric's total revenue for the period stood at ₹475.6 crore.

Founded in 2017, Zypp Electric offers electric vehicle-based mobility solutions for gig workers, generating revenue primarily through last-mile delivery services and EV rentals. The delivery service segment contributed ₹322.4 crore, while EV rentals generated ₹137.7 crore, showing a 24% year-over-year increase.

Total expenses for FY26 decreased by 3.8% to ₹534.8 crore. The largest expenditure, rider expenses, fell by 5.7% to ₹334.6 crore, indicating tighter cost controls. Conversely, expenses related to battery swapping surged by 40.3% to ₹24 crore, reflecting fleet expansion.

Zypp Electric is currently preparing for a planned $200 million Initial Public Offering (IPO) within the next 22 months. The company has engaged Axis Capital, SBI Capital Markets, and DAM Capital as bankers for the listing. The Indian EV market is projected to become a significant opportunity by 2032.