Digital mobility solutions provider PickMe concluded FY24 on a high gear, maintaining the growth acceleration from 3Q24 through to the final quarter. The fourth quarter saw the company hitting record-breaking peaks in both independent third-party driver and consumer bases.

The company recorded a profit before tax of Rs. 993 million, a steep increase from the Rs. 69 million recorded in FY23. Its cash reserves now exceed Rs. 1 billion which the company plans to allocate between ensuring sufficient liquidity to fuel future growth and providing long term shareholder return.  

Gross  transaction  value  facilitated  by  the  App  representing  the economic value that the platform created for independent third party drivers and independent merchants reached Rs. 39 billion for the fiscal year, reflecting a 118 percent year-on-year growth. 

Transaction volumes surged by 164 percent year-on-year to Rs. 58 million total movements. 

According to PickMe Chairman Ajit Gunewardene the company has reached a pivotal inflection point early this year, and we are now achieving strong profitable growth atscale.

Jiffry Zulfer, Founder and CEO of PickMe, noted that  expansion plans are poised to capitalise on opportunities in the mobility sector, and we will ensure optimal returns for our stakeholders."