PickMe reports robust 3Q performance overcoming Cyclone Ditwah disruptions

Ajit Gunewardene

Jiffry Zulfer

Digital Mobility Solutions Lanka PLC (PickMe) recorded a revenue of Rs.6.2 billion for the first nine months of FY25/26, representing a 50 percent year-on-year (YoY) increase from Rs.4.1 billion in the corresponding period of the previous financial year. 

Growth was driven by record user engagement, an expanding supply base and increased activity across all service verticals, validating the effectiveness of PickMe’s platform-led strategy.

Overall platform activity increased 47 percent YoY during the first nine months, driving a 46 percent increase in gross transaction value to Rs.59.5 billion, up from Rs.40.7 billion in the prior year. Notably, average monthly ride-hailing driver earnings on the platform has increased by 14 percent compared to the same period last year, highlighting the growing economic opportunity for the company’s community of third-party driver earners. 

Supported by a strong top-line growth, improved operating leverage and disciplined cost management, the operating profit for the first nine months of FY25/26 increased 93 percent YoY to Rs.2.1 billion, compared to Rs.1.1 billion in the previous year. Net profit rose 89 percent to Rs.1.5 billion, reflecting the company’s ability to scale efficiently while delivering a robust bwottom-line growth.

Revenue for the third quarter of FY25/26 reached Rs.2.3 billion, a 48 percent YoY increase, from Rs.1.5 billion recorded in the same quarter last year. This performance was achieved despite the temporary disruptions caused by Cyclone Ditwah in late November 2025. While the regions outside the Western province were significantly affected, activity returned to pre-cyclone levels within two weeks. Strong seasonal demand in the Western province offset the decline in the Central province, which was the most impacted region.

PickMe Founder and CEO Jiffry Zulfer said, “Strong user engagement and consistent execution across our platform enabled us to deliver a resilient growth this quarter, even in the face of external disruptions. We remain focused on scaling responsibly while delivering dependable value to users, earners and shareholders.”

Commenting on the results, Chairman Ajit Gunewardene said, “These results reflect a disciplined strategy, strong governance and a business model that continues to grow sustainably. The company’s performance, albeit impacted by severe adverse weather in this quarter, demonstrates the resilience of our platform and the strength of our long-term vision.”