Wednesday Oct 28, 2026
Wednesday Oct 28, 2026
Wednesday, 28 October 2026 00:00 - - {{hitsCtrl.values.hits}}
Digital Mobility Solutions Lanka PLC, owner and operator of the PickMe platform, yesterday said it posted revenue of Rs. 2.9 billion in the second quarter of FY26/27, up 37% year-on-year, alongside a 37% increase in total platform movements.
The platform facilitated Rs. 28.5 billion in Gross Transaction Value (GTV), with Rs. 24.7 billion flowing directly to independent drivers and merchants. Higher transaction volumes and stronger operating leverage lifted net profit by 53% year-on-year to Rs. 784 million. This performance supported the Board’s approval of an interim dividend of Rs. 2.75 per share, representing a 65% payout ratio.
In a statement, the Company said the results reflect the operating leverage created by increasing network density. Connecting more consumers, drivers and merchants enables PickMe to improve platform efficiency, deliver greater value for its users and enhance overall earnings by spreading technology and operating costs across a larger volume of activity.
PickMe Founder and CEO Jiffry Zulfer said the performance demonstrated the economic potential of digitalisation in the shared economy. “Our business earns a small share of a growing volume of transactions, while the greater share of that value remains with the independent drivers and merchants providing the services. As more consumers, earners and businesses join the platform, greater network density creates more earning opportunities while allowing PickMe to invest in technology that continuously improves user experience and generates strong returns for shareholders. That is the strength of the model; the platform succeeds as the people and businesses using it grow.”
PickMe Chairman Ajit Gunewardene said the dividend balanced shareholder returns with the Company’s continuing investment requirements. “The interim dividend reflects the Board’s confidence in PickMe’s performance, financial position and long-term prospects. Our approach is to provide meaningful returns to shareholders while retaining the capacity to invest in technology, strengthen the platform and pursue future growth opportunities. As a locally developed technology business, PickMe also brings more consumers, independent earners and businesses into the digital economy as it grows, helping bridge the digital divide.”
Average monthly unique consumers reached 2.1 million during the quarter, increasing 38% year-on-year. Average monthly unique driver earners were up 58% year-on-year. Total platform movements also increased 18% quarter-on-quarter, with growth recorded across all product verticals.
The CEO said restoring supply reliability following the first-quarter fuel disruption had been an operational priority. “Our immediate focus was to improve driver availability and maintain a reliable service as demand recovered. The growth in consumer activity, earner participation and platform movements shows that these measures are delivering results. We will continue to focus on service quality, supply reliability and disciplined execution as the platform expands.”
For the first half of FY26/27, revenue rose 38% year-on-year to Rs. 5.4 billion from Rs. 3.9 billion in the corresponding period of the previous financial year. Average monthly unique consumers and driver earners both reached all-time highs during the period, while total platform movements increased 39% year-on-year. First-half GTV rose 43% year-on-year to Rs. 53.8 billion from Rs. 37.6 billion, generating Rs. 46.7 billion in earnings for independent drivers and merchants.
Higher transaction volumes, operating leverage and continued cost discipline lifted first-half operating profit by 44% to Rs. 1.9 billion from Rs. 1.3 billion a year earlier. Net profit increased 49% to Rs. 1.4 billion from Rs. 950 million, while earnings per share rose to Rs. 4.24 from Rs. 2.85.
