Founded by IIT Kharagpur Graduates, Logistics Platform LetsTransport Records Rs 530 Cr Revenue in FY25; Loss Shrinks to Rs 60 Cr in FY25
Founded by graduates from the prestigious Indian Institute of Technology (IIT) Kharagpur, the logistics platform LetsTransport has made remarkable strides in its financial performance for the fiscal year 2025 (FY25). The company recorded a revenue of Rs 530 crore, marking a substantial increase of 35% from the previous fiscal year, where it reported a revenue of Rs 392 crore.
Financial Highlights
According to financial statements sourced from the Registrar of Companies (RoC), LetsTransport’s revenue from logistics services alone accounted for Rs 527 crore in FY25, compared to Rs 390 crore in FY24. Additionally, the company generated Rs 3 crore from other income sources, which included interest on bank deposits and gains from the sale of investments.
Cost Management and Profitability
In terms of expenses, LetsTransport has demonstrated effective cost management strategies. Employee benefit expenses saw a significant decline of 25%, dropping to Rs 39 crore in FY25 from Rs 52 crore in FY24. However, contract driver costs, along with toll and parking charges, represented a substantial portion of the company’s total expenses, amounting to nearly 81%. These costs rose to Rs 481 crore in FY25 from Rs 362.8 crore in FY24.
Finance costs also showed a positive trend, decreasing by 25% to Rs 37.8 crore in FY25, down from Rs 50 crore in FY24. Overall, total expenses increased by 16.5% to Rs 590.2 crore in FY25, compared to Rs 506.3 crore in FY24. Despite the increase in total expenses, the company’s net loss narrowed by 47%, amounting to Rs 60 crore in FY25, down from Rs 114 crore in FY24.
Improved Efficiency
On average, LetsTransport spent Rs 1.12 to earn every rupee in FY25, an improvement from Rs 1.30 in FY24. This indicates enhanced operational efficiency and better unit economics, which are critical for the company’s long-term sustainability.
Current Assets and Financial Position
As of March 31, 2025, LetsTransport reported current assets worth Rs 195.5 crore, which included cash and bank balances amounting to Rs 74 crore. This solid financial position provides a buffer for future growth and investment opportunities.
About LetsTransport
LetsTransport, now part of the LetsTransport Group, is a technology-enabled logistics platform headquartered in Bengaluru, India. Founded in 2015 by IIT Kharagpur alumni Pushkar Singh, Sudarshan Ravi, and Ankit Parasher, the company focuses on urban and intra-city logistics for enterprise clients.
Business Model and Operations
The company operates on an asset-light model, connecting businesses with a network of over 250,000 light and medium commercial vehicle operators. Its technology-driven solutions include:
- Real-time GPS tracking
- Route optimisation
- Point-to-point billing
- 24×7 service support
LetsTransport serves a diverse range of leading companies, including Amazon, Flipkart, Coca-Cola, Nestlé, Zomato, and Zepto. As of 2026, the company operates in more than 30 cities across India, including major hubs such as Delhi NCR, Mumbai, Chennai, Hyderabad, and Pune. It provides managed services across various logistics segments, including first-mile (seller pickups), mid-mile (warehouse transfers), and last-mile (delivery to retailers or customers) logistics.
Recent Developments
In February 2026, Bertelsmann Investments acquired an 80% majority stake in LetsTransport, leading to a rebranding of the company as LetsTransport Group (LTG) under the Bertelsmann Next India platform. Prior to this acquisition, the company had raised a total of $77 million in funding, which included $22 million in a Series E round in April 2024 led by Bertelsmann India Investments, and $25 million in July 2023.
Conclusion
LetsTransport’s impressive financial performance in FY25 underscores its potential for growth in the competitive logistics sector. With a focus on operational efficiency, effective cost management, and a robust business model, the company is well-positioned to navigate the challenges ahead and continue its trajectory of success.
Note: The information presented in this article is based on publicly available financial statements and company announcements as of October 2023.
