On-demand logistics service provider Porter’s operating revenue shot up 54% to Rs 6,649 crore in fiscal year 2026, marking its fifth consecutive year of growth of more than 50%. The Bengaluru-based company also reported a nearly four-fold jump in net profit to Rs 229 crore for the year ended March 31, according to regulatory filings with the Registrar of Companies.

While the surge in Porter’s bottomline was aided by a Rs 32-crore deferred tax benefit, the company was also profitable on a pre-tax basis, with improved operating leverage during the year resulting in better margins. FY26 was Porter’s second consecutive profitable year.

The logistics provider’s earnings before interest, taxes, depreciation and amortisation (Ebitda) rose more than threefold to Rs 159 crore in FY26 from Rs 48 crore in FY25.

The company, which is backed by investors such as Kedaara Capital and Wellington Management, saw its largest expense, fleet operator costs, climb 58% to Rs 5,849 crore in FY26.

Porter has positioned itself as a full-stack, multi-category logistics platform, bringing services such as last-mile delivery, parcel movement and intercity relocations onto a single app.

The company primarily serves micro, small and medium enterprises (MSMEs), while a smaller portion of its revenue comes from business-to-consumer (B2C) offerings such as movers and packers and peer-to-peer parcel delivery services.

Porter has been rapidly expanding its footprint and currently operates in more than 50 cities.

Rising competition

Over the past 15-18 months, the company has faced increasing competition, both from rivals entering its core business areas and from existing players expanding into newer segments.

This includes Uber, which has entered on-demand aggregation of larger vehicles for goods transportation.

In two-wheeler parcel delivery, Porter competes with Uber, Rapido, Borzo and new-age logistics company Delhivery, which launched its hyperlocal courier service, Delhivery Direct, last year.

Porter closed a $300-million funding round in 2025 at a valuation of $1.2 billion. The round also saw Peak XV Partners, one of the company’s early backers, exit its investment.