EV Startup Pure EV’s FY25 PAT Surges To INR 2.5 Cr

SUMMARY

Pure EV’s profit for the financial year ended March 31, 2025 (FY25) jumped 49X to INR 2.5 Cr from INR 5 Lakh in the previous year

The startup’s operating revenue surged 9% to INR 134.9 Cr in the period under review from INR 123.6 Cr in FY24

Sale of vehicles has emerged as the most strong revenue generating engine for the Hyderabad-based startup, generating INR 123.3 Cr in FY25 making up more than 90% of the operating revenue

Electric vehicle (EV) startup Pure EV net profit for the fiscal year FY25 zoomed to INR 2.5 Cr, growing multifold from INR 5 Lakh PAT reported in the previous fiscal year.

In the fiscal year under review, Pure EV’s operating revenue increased 9% to INR 134.9 Cr from INR 123.6 Cr in FY24. Including other income of INR 2.5 Cr, Pure EV’s total income stood at INR 137.4 Cr in FY25.

In this, sales of EVs contributed INR 123.3 Cr, making up more than 90% of the operating revenue. The startup exported EVs worth INR 38.9 Lakh in the fiscal year. Besides EV sales, income from sale of batteries stood at INR 3 Cr.

Founded in 2015 by Nishanth Dongari and Rohit Vadera, Pure EV manufactures and sells two wheeler EVs under the Pure EV brand. It has various models under its portfolio such as Epluto 7G Max, Epluto 7G, ETrance Neo, EcoDryft, and eTryst 350. Further, the startup also offers energy storage solutions under its PuRE POWER brand for home and commercial applications.

The startup initially began operations as a lithium-ion battery manufacturer but later forayed into the sale of electric two wheelers.

In terms of EV registrations, the startup has clocked 16,347 E2W registrations till date this year in India, growing significantly from 5,539 registrations in 2024. While Pure EV has seen an uptick in the number of EV registrations on a YoY basis, it is still way behind market leaders in the space such as TVS and Bajaj who have 2.57 Lakh and 2.37 Lakh EV registrations, respectively in 2025 till date.

Last year it was reported that Pure EV is planning for its IPO in 2025. Further, in March the company converted into a public entity. However, since then there has been no development in the IPO journey of Pure EV.

EV Startup Pure EV’s FY25 PAT Surges To INR 2.5 Cr

Where Did Pure EV Spent?

In FY25, the startup’s total expenditure marginally increased by 3% to INR 134.2 Cr from INR 130 Cr in the previous year.

Cost Of Material Consumed: The startup’s cost under this head fell 10% to INR 80.4 Cr in FY25 from INR 89.7 Cr in the previous year.

Employee Benefits Cost: Pure EV’s salary and employee benefit cost fell the most by 26% to INR 5.6 Cr in FY25 from INR 7.6 Cr in the previous year.

Advertising Cost: The startup’s promotions and advertising cost zoomed 2.3X to INR 7.8 Cr in FY25 from INR 2.4 Cr in the previous year.