Porter Turns Profitable In FY25, Revenue Crosses INR 4,000 Cr Mark

Logistics unicorn platform Porter turned profitable in the financial year ended March 2025, driven by strong top line growth and improvement in margins. The startup posted a consolidated net profit of INR 55.2 Cr in FY25 as against a loss of INR 95.7 Cr in the previous fiscal year. 

Porter’s revenue from operations skyrocketed nearly 58% to INR 4,306.2 Cr during the year under review from INR 2,733.7 Cr in FY24. The startup earns a majority of its revenue through sale of services, which includes delivery of goods to the destination of the customers by the partner drivers. 

Porter works on a revenue-sharing model, charging up to 30% of the billed amount depending on the location, with the remainder going to its driver partners.

Meanwhile, the logistics unicorn’s expenditure grew 50% in FY25 to INR 4,286.3 Cr from INR 2,862.1 Cr in the previous fiscal year. 

As a result, its EBITDA jumped to INR 83.6 Cr during the year under review as against an EBITDA loss of INR 80 Cr in FY24. EBITDA margin expanded to 1.94% in FY25 from -2.93% in the previous year.

Notably, Porter founder Pranav Goel told Inc42 in June that the startup was EBITDA positive for the past few quarters.

Founded in 2014 by Goel, Vikas Chaudhary and Uttam Digga, Porter offers B2C and B2B logistic services, including enterprise-level goods movements and management, packers and movers service for relocation, and intercity courier services. 

The startup claims to work with over 3 Lakh driver partners and have over 20 Lakh SME customers. It is looking to expand its SME pool to 1 Cr+ by 2030, increase the number of driver partners to 12 Lakh, and push for its sustainability goals by incorporating more EVs into its network. 

Porter entered the unicorn club in May this year after raising $200 Mn in its Series F round led by Kedaara Capital and Wellington Management. 

The startup is said to be looking to raise an additional $100 Mn to $110 Mn in its extended Series F funding round and hit the public market in the next 12-15 months.

Where Did Porter Spend?

Here’s a breakdown of Porter’s expenses in FY25:

Fleet Operator Expenses: This is the biggest expense head for Porter. It includes the cost incurred by the startup for running vehicles. The spending under this head surged nearly 55% to INR 3,679 Cr during the year under review from INR 2,369 Cr in FY24. 

Employee Benefit Expenses: The unicorn’s spending on its employees, including salaries, wages and incentives, rose 20% to INR 285.2 Cr in FY25 from INR 237.3 Cr in the previous fiscal year. 

Advertising & Marketing Expenses: Porter increased its spending on marketing and advertising by 5.5% to INR 80 Cr from INR 75.8 Cr in FY24. 

Porter competes with the likes of Uber, Uncle Delivery, Borzo, LetsTransport, Delhivery, among others.