Zoomcar Holdings, Inc., India’s leading car-sharing marketplace, announced a significant milestone in its financial performance for the third fiscal quarter ended December 31, 2024. The company reported its highest-ever unaudited and unreviewed monthly contribution profit in December 2024, totaling $494,506, based on provisional figures. This profit was sufficient to cover all operational costs in India (excluding exceptional items). As Zoomcar operates solely in India, no operational costs are incurred elsewhere. This achievement highlights the company’s dedication to operational excellence and sustainable growth.
December 2024 marked a significant growth in consumer demand, leading to a 17% growth in bookings compared to December 2023. This surge in activity highlights the growing appeal of Zoomcar’s platform among Hosts and Guests, as well as the increasing adoption of car-sharing solutions across India.
Zoomcar has shown a remarkable financial turnaround over the past year. Key achievements include a $0.46 million (20%) contribution profit in Q1 2024-25, a significant improvement from a $1.2 million (-45%) loss in Q1 2023-24. In Q2 2024-25, the company reported a record quarterly contribution profit of $1.21 million (54% of revenue), up from a $0.12 million (-5%) loss in Q2 2023-24. The positive trend continued with December 2024’s unaudited monthly contribution profit, marking four consecutive quarters of improvement.
Hiroshi Nishijima, Interim CEO of Zoomcar, commented, “By achieving a record contribution profit (unaudited and unreviewed) in December 2024 which is our peak seasonal demand month and covering operational costs reflects that our business fundamentals are right on track by putting the customer experience at the center of our strategy. This focus drives repeat bookings from Guests and strengthens Host retention, all while minimizing our spend on discounts and marketing—an organic flywheel of growth. With improved profitability, we are committed to reinvesting in enhancing the customer journey and launching innovative products that add value to our community.”
As Zoomcar heads into 2025, the company remains dedicated to advancing its mission of empowering Hosts, offering affordable and convenient transportation for Guests, and driving financial sustainability. The continuous trend of improving contribution profits not only signals progress but also sets a strong foundation for the future.
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