Zypp Electric’s revenue growth slows to 5% in FY26; losses narrow 44%

Zypp Electric fell short of its FY26 revenue target of Rs 600 crore , with the B2B delivery and shared mobility startup posting Rs 461 crore in revenue during the year. The company had earlier indicated that it was targeting Rs 600 crore in revenue for FY26, but ended the year with a modest 5% year-on-year growth. Zypp’s revenue from operations increased modestly to Rs 461 crore in FY26 from Rs 438 crore in FY25, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Zypp Electric is an EV-as-a-service platform that offers electric vehicle rentals and delivery services through its e-scooter fleet for gig workers. Revenue from delivery services accounted for around 60% of its operating revenue and remained largely flat at Rs 322 crore in FY26. Meanwhile, income from vehicle rentals grew 24% to Rs 138 crore. The company also earned Rs 15 crore from interest income, taking its total income to Rs 476 crore in FY26. With growth remaining modest, Zypp’s rider expenses declined 5.6% to Rs 335 crore in FY26, while employee benefit expenses fell to Rs 64 crore. Rental, battery-swapping and other overhead costs took its total expenditure to Rs 535 crore during the fiscal year. With modest revenue growth and tighter cost controls, the company managed to cut its loss by 44% to Rs 60 crore in FY26 from Rs 107 crore in FY25. Notably, Zypp Electric had accumulated losses of Rs 320 crore as of March 2026. During FY26, its return on capital employed…