December 2024 marks a significant milestone for Zoomcar, with provisional unaudited financials showing its highest-ever monthly contribution profit, sufficient to cover operational expenses in India, driven by a 17% year-on-year growth in bookings.
09 Jan 2025 | 1576 Views | By Autocar Pro News Desk
Zoomcar a car-sharing marketplace in India, has announced its highest-ever unaudited contribution profit for a single month in December 2024. According to provisional data, the company recorded Rs 4 cr in contribution profit, sufficient to cover its operational costs in India, excluding exceptional items.
The financial milestone reflects ...
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Zoomcar a car-sharing marketplace in India, has announced its highest-ever unaudited contribution profit for a single month in December 2024. According to provisional data, the company recorded Rs 4 cr in contribution profit, sufficient to cover its operational costs in India, excluding exceptional items.
The financial milestone reflects a surge in consumer demand during December 2024, a peak season for car rentals, with bookings increasing by 17% compared to the same period in 2023. This growth indicates the rising adoption of Zoomcar’s platform by both Hosts and Guests across India.
Zoomcar's financial performance has shown steady improvement over the past year. In the first quarter of the fiscal year 2024-25, the company reported a contribution profit of $0.46 million, representing 20% of revenue. This marked a significant turnaround from a loss of $1.2 million, or -45% of revenue, in the first quarter of 2023-24.
Similarly, in the second quarter of 2024-25, Zoomcar posted a contribution profit of $1.21 million, amounting to 54% of revenue, compared to a loss of $0.12 million, or -5%, during the same period in 2023-24. December 2024's contribution profit builds on this momentum, continuing a trend of consistent financial improvement over the past four quarters.
Commenting on the results, Hiroshi Nishijima, Interim CEO of Zoomcar, said, “Achieving a record contribution profit in December, our peak demand month, demonstrates the progress of our business fundamentals. By focusing on enhancing customer experience, we have driven repeat bookings and strengthened Host retention while optimizing marketing and discount expenditures. This success enables us to reinvest in improving our platform and introducing innovative products that benefit our community.”
As Zoomcar looks ahead to 2025, the company remains focused on empowering Hosts, providing affordable and convenient car-sharing options for Guests, and sustaining financial growth. The steady increase in contribution profits highlights the company’s progress and positions it for continued success in the car-sharing market.