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Everest Fleet's revenue crosses Rs 1,000 Cr in FY24, remains profitable

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Everest Fleet's revenue crosses Rs 1,000 Cr in FY24, remains profitable

Uber-backed mobility startup Everest Fleet has reported substantial growth in scale and consistent profits for consecutive fiscal years. In the last fiscal year, Everest Fleet's revenue from operations increased by 120.7% to Rs 1029.44 crore. The company operates in the fleet management and passenger transportation sectors and provides services such as ridesharing and B2B services like food transportation and car rental to corporates. Everest Fleet's expenses also surged, with employee benefits being the largest cost vertical. Despite increased expenses, the company maintained profitability, although its profit declined by 8%. Everest Fleet recently raised $30 million in funding from Uber and has plans to expand its fleet of clean-energy vehicles.

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