Porter has managed to keep its growth engine running even as competition heats up in India’s intra-city logistics market, with Uber, Rapido and Delhivery expanding into the two-wheeler parcel delivery segment. 

After turning profitable for the first time in FY25, the Bengaluru-based firm’s profit surged more than fourfold in the fiscal year ended March 2026. Its revenue also more than doubled over the past two fiscals, rising from Rs 2,734 crore in FY24 to over Rs 6,600 crore in FY26.

Porter’s revenue from operations increased 54.4% year-on-year to Rs 6,650 crore in FY26 from Rs 4,306 crore in FY25, according to its consolidated financial statements sourced from the Registrar of Companies (RoC).

Porter operates a full-stack logistics platform that helps businesses optimise their last-mile delivery operations. Goods transportation services contributed 99% of its operating revenue, while the remaining revenue came from platform fees and other operating activities.

The company primarily serves micro, small and medium enterprises (MSMEs) and has expanded its presence to more than 20 cities across India. It also earned Rs 48 crore from interest income and gains on current investments, taking its total income to Rs 6,698 crore in FY26.

For the on-demand intra-city logistics firm, fleet operator costs, including vehicle running expenses, remained the largest expense head, accounting for nearly 90% of its overall expenditure. The cost increased 59% to Rs 5,849 crore in FY26 from Rs 3,679 crore in FY25.

Employee benefits and advertising expenses stood at Rs 324 crore and Rs 102 crore, respectively. Finance costs, depreciation, IT, legal and other overheads took the company’s total expenditure up 51.8% to Rs 6,505 crore in FY26 from Rs 4,286 crore in FY25.

The growth in scale, coupled with better cost management, helped Porter increase its net profit more than fourfold to Rs 229 crore in FY26 from Rs 55 crore in FY25. Its return on capital employed (ROCE) improved to 16.7%, while its EBITDA margin stood at 3.11% during the fiscal year.

Porter spent Rs 0.98 to earn every rupee of revenue in FY26. As of March 2026, the company had total current assets of Rs 1,052 crore, including Rs 526 crore in cash and bank balances.

Porter has raised more than $332 million to date, including a $200 million Series F round in May 2025, led by Kedaara Capital and Wellington Management. Prior to this, the company raised $100 million in 2021 in a round led by Tiger Global.

Soon after the unicorn round, Porter also provided an exit to its early backer Peak XV. The investor reportedly generated returns of more than Rs 1,200 crore on its Rs 116 crore investment.

For Porter, the challenge now is less about proving that the market exists and more about defending its position as larger players step into the segment. With Uber, Rapido and Delhivery increasingly eyeing the same opportunity, Porter’s ability to maintain its growth while protecting its newly established profitability will be the key metric to watch.