PickMe distributes Rs.73bn to independent earners and merchants

• Contributes Rs.2.7bn in taxes

Jiffry Zulfer

Ajit Gunewardene

Digital Mobility Solutions Lanka PLC (DMSL), the owner of the PickMe brand, delivered its strongest annual financial performance to date, posting revenue of Rs.8.7 billion for the financial year ended March 31, 2026 (FY25/26), a 49 percent increase from Rs.5.8 billion in the previous year.
Crucially, the platform’s scaling directly boosted its contribution to the local economy. The gross transaction value, representing the total value of all trips and deliveries facilitated through the platform, increased 49 percent to Rs.84.5 billion, from Rs.56.9 billion in FY24/25. Of this total value, over Rs.73 billion was distributed directly to PickMe’s independent earners and merchant network, underscoring the platform’s role as a vital driver of entrepreneurial livelihood across the island.
A significant aspect of this year’s report is Rs.2.7 billion paid in national taxes (VAT, SSCL, corporate tax) highlighting PickMe’s contribution to Sri Lanka’s economy.
This growth was supported by record user adoption, stronger engagement and rising activity across all product verticals, which significantly expanded income-generating opportunities across the network.
The company also reported a sharp improvement in profitability, with the operating profit rising 90 percent year-on-year (YoY) to Rs.3.1 billion, from Rs.1.6 billion, while the net profit increased 88 percent to Rs.2.2 billion, compared with Rs.1.2 billion in the prior financial year.
Beyond financial performance, PickMe continued to strengthen Sri Lanka’s shared economy ecosystem by expanding flexible earning opportunities across the country. The platform now supports more than 167,000 independent drivers and delivery riders, while the driver net earnings increased by over 14 percent during the year.
The company also advanced financial inclusion through its Rent-to-Own electric vehicle initiative developed in collaboration with Browns EV and LOLC Holdings, enabling micro-entrepreneurs to transition from short-term earners to long-term asset owners while reducing exposure to the rising fuel costs.
PickMe also strengthened Sri Lanka’s SME ecosystem by providing more than 5,000 merchant earners, including small businesses, restaurants and home-based enterprises, access to digital commerce infrastructure, integrated logistics solutions and expanded customer reach. By lowering barriers to market entry and reducing the need for significant upfront investments, the platform continued supporting the growth and resilience of local entrepreneurship. DMSL Founder and CEO Jiffry Zulfer said the results reflected the growing adoption of its digital mobility ecosystem and validated its platform strategy, as consumer demand continued to strengthen across its service portfolio. 
“As we move into the next financial year, our focus remains on deepening user engagement, enhancing their experience and expanding the value created across our ecosystem. We believe there remains significant room for growth and we are confident in our ability to sustain this momentum while building a stronger, more efficient and mutually rewarding platform.”
The fourth quarter performance remained robust, despite the challenging operating conditions. Revenue for the quarter reached Rs.2.5 billion, representing a 46 percent increase, compared with Rs.1.7 billion recorded in the corresponding period last year. 
DMSL navigated the external pressures arising from the Middle East crisis, which contributed to higher domestic fuel prices and fuel rationing measures through QR code implementation.
Despite these setbacks, the company maintained a strong operational momentum and protected the income of its micro-entrepreneurs through proactive marketplace optimisation tools and platform efficiencies. 
The overall platform movements during the quarter increased 49 percent YoY, supported by record monthly unique consumers and stronger participation from independent third-party drivers. 
The platform activity also rose 15 percent sequentially compared with the third quarter, which had experienced operational disruptions from Cyclone Ditwah.
Profitability continued to strengthen during the quarter, with the operating profit rising 84 percent YoY to Rs.985 million, from Rs.534 million in the same period last year. The operating profit margin improved to 39 percent, up from 31 percent previously. The company attributed the improvement to stronger transaction volumes, pricing optimisation, higher operating leverage and cost management initiatives, particularly within the IT infrastructure.
The net profit after tax for the quarter climbed 86 percent to Rs.698 million, compared with Rs.375 million in the corresponding period of the previous financial year, while also recording a 26 percent quarter-on-quarter increase, reflecting sustained earnings momentum.
DMSL Chairman Ajit Gunewardene said, “The FY25/26 results reflect the strength and resilience of our platform model and the disciplined execution of our long-term strategy. Despite operating within a dynamic external environment, the company continued to deliver strong growth while maintaining a sharp focus on profitability and shareholder value creation. The board remains committed to supporting sustainable growth through prudent capital allocation, strategic investments and a balanced approach to returns for shareholders.”
The board has also proposed a final dividend of Rs.2.60 per share for FY25/26, subject to shareholder approval at the upcoming Annual General Meeting. 
Together with the interim dividend of Rs.1.70 per share paid in November 2025, the total dividends for the year will amount to Rs.4.30 per share, representing a cash payout ratio of 65 percent.