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Yulu reports Rs 281 Cr revenue and Rs 97 Cr loss in FY26

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Yulu reports Rs 281 Cr revenue and Rs 97 Cr loss in FY26

Electric mobility startup Yulu Bikes narrowed its losses by 23% to Rs 96.6 crore in the fiscal year ending March 2026. The improvement came as revenue from its electric vehicle rental business increased, while overall expenses grew at a slower pace than revenue.

Yulu’s revenue from operations rose 18.6% to Rs 281 crore in FY26 from Rs 237 crore in FY25, according to its consolidated financial statements. 

Income from renting electric vehicles, its largest revenue stream, increased 30.3% to Rs 262 crore from Rs 201 crore and accounted for more than 93% of operating revenue during the fiscal year ending March 2026.

Revenue from the sale of goods declined 59.3% to Rs 9.2 crore while manpower services fell 57% to Rs 5.7 crore from Rs 13.2 crore. In contrast, delivery services revenue rose more than 22X to Rs 2.6 crore. Franchisee income increased 122.2% to Rs 80 lakh from Rs 36 lakh.

Yulu’s employee benefit expenses, its largest cost head, increased 6.8% to Rs 94 crore in FY26 from Rs 88 crore in FY25. Battery-as-a-service costs rose 3.6% to Rs 87 crore, while depreciation expenses declined marginally by 1.5% to Rs 65 crore. Finance costs surged 40.9% to Rs 15.5 crore, whereas the cost of materials consumed fell 60% to Rs 8 crore. Technology and infrastructure expenses increased 11.6% to Rs 15 crore.

56 crore in FY25. 4% to Rs 377 crore in FY26 from Rs 351 crore in the previous fiscal year. Bengaluru-based Yulu’s losses narrowed 23% to Rs 97 crore in FY26 from Rs 126 crore in FY25.


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