Rapido losses more than double to Rs 439 cr over higher salaries, marketing expenses

Ride-sharing company Rapido’s revenue rose nearly two-fold to Rs 144 crore in financial year 2021-22 (FY22) from Rs 75 crore in FY21, according to its financial report accessed through business intelligence platform Tofler.

The Bengaluru-based company’s losses widened to Rs 439 crore in FY22 from a loss of Rs 166 crore in FY21 as the firm hired more employees and spent more on marketing post-Covid-19.