Yulu cuts FY26 loss 23% to Rs 96.6 crore as revenue hits Rs 281 crore

Electric mobility startup Yulu Bikes narrowed its loss by 23% to Rs 96.6 crore in the fiscal year ended March 2026, according to its consolidated financial statements.

Revenue from operations rose 18.6% to Rs 281 crore in FY26, up from Rs 237 crore a year earlier. The improvement in the bottom line came because overall expenses grew at a slower pace than revenue.

Rentals drive the growth

Income from renting out electric vehicles, Yulu's largest revenue stream, increased 30.3% to Rs 262 crore from Rs 201 crore in FY25. That segment accounted for more than 93% of the company's operating revenue during the year.

The figures show that Yulu's growth is concentrated in its core rental business, which expanded considerably faster than total operating revenue. Rental income grew at a rate well above the 18.6% overall increase, underlining how heavily the company depends on this line of business.

Why it matters

For an electric mobility startup, narrowing losses while growing revenue is a key signal to investors and partners that the business model is moving toward better unit economics. Expenses rising more slowly than sales is the basic mechanism behind that improvement, though Yulu still posted a loss of nearly Rs 97 crore for the year.

The results also point to continued demand for shared and rented electric vehicles, a segment in which the company operates. The filing does not change the fact that profitability remains some distance away, but the direction of travel for FY26 was toward a smaller loss and larger revenue base.