In the fiscal year that concluded in March 2025, the intercity transportation platform Zingbus almost doubled its size. The Gurugram-based business, however, was still losing money.

According to its financial documents submitted to the Registrar of Companies (RoC), Zingbus' operating revenue increased by 85% to Rs 161 crore in FY25 from Rs 87 crore in FY24.

Key Highlights

• Info Edge-backed Zingbus nearly doubled revenue to ₹161 crore in FY25, up 85% from FY24.
• Despite strong growth in intercity ticketing revenue, Zingbus continued to operate at a net loss in FY25.

Intercity bus ticketing services are Zingbus's main source of income. The company's only source of income came from these services.

Bus rental fees accounted for more than 63% of the overall expenditure, making them the greatest expense component. From Rs 49 crore in FY24 to Rs 121 crore in FY25, this expense increased by 147%.

While employee benefit costs increased by 7% to Rs 15 crore, guarantee commission paid to fleet partners increased significantly by 78% to Rs 16 crore. During that time, advertising costs rose by 9% to Rs 6 crore.

Zingbus' overall spending increased by 65% from Rs 116 crore in FY24 to Rs 191 crore in FY25. See TheKredible for a more thorough summary of expenses.

The business was able to greatly increase its operational efficiency in spite of the sudden scale-up. The EBITDA margin improved from -44.5% in FY24 to -18.9% in FY25 as the EBITDA loss decreased to Rs 30.4 crore from Rs 38.7 crore.

In FY25, Zingbus reported a net loss of Rs 25 crore, nearly unchanged from the loss of Rs 24 crore in FY24. Its EBITDA margin was -18.88%, while its ROCE was -40.39%.

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In FY25, the company spent Rs 1.19 per rupee on operational revenue, compared to Rs 1.33 per rupee in the prior fiscal year. At the end of FY25, Zingbus had current assets of Rs 9 crore and cash and bank balances of Rs 3 crore.

TheKredible reports that AdvantEdge Technologies, Info Edge, and BP Ventures are Zingbus's principal backers, and the company has raised a total of $25 million in funding to date.