DriveU FY26 results: net profit more than doubles to Rs 3.6 crore

DriveU more than doubled its net profit to Rs 3.6 crore in the fiscal year ended March 2026 (FY26), from Rs 1.73 crore in FY25. It was the company’s third consecutive profitable year.

Net revenue grew 14% year on year to Rs 32.9 crore from Rs 28.9 crore, according to its audited financial statements. Net transaction value (NTV) rose 17% to Rs 131 crore from Rs 112 crore, and gross revenue stood at Rs 131 crore.

EBITDA grew 58% year on year to Rs 2.74 crore. The EBITDA margin on net revenue improved to 8.3% from 6% a year earlier.

In April 2026 the company launched two new verticals, DriveU Reserve and DriveU Coach, and it expects gross revenue of Rs 170 crore in FY27, about 30% above FY26.

DriveU is a Bengaluru-based platform, founded in 2015 by Ashok Shastry and Rahm Shastry, that lets car owners hire trained, verified drivers to drive their own cars. It operates in 13 cities and has completed over 10.5 million trips with more than 100,000 registered driver-partners.

Beyond that core service, DriveU Reserve is a chauffeur-driven premium cab service, and DriveU Coach offers driving lessons at customers’ homes.

DriveU sits in a segment separate from ride-hailing. Platforms such as Uber, Ola and Rapido connect riders with taxis and two-wheelers, while DriveU serves owners who want someone else to drive their own vehicle. Concerns around drunk driving and road safety have added to demand for such services.

DriveU has raised a total of Rs 54 crore since inception, and its last round was in 2024. It has not raised fresh capital since, and plans to fund its Reserve and Coach investments from operating cash flows. It plans to expand both into more cities.