PickMe unlocks over Rs. 22 b for micro-entrepreneurs in 1Q

Chairman Ajit Gunewardene

Founder/CEO Jiffry Zulfer 

• In results for the quarter, revenue up 40% YoY to Rs. 2.5 b and net profit up 45% to Rs. 631 m 

Digital Mobility Solutions Lanka PLC (PickMe) yesterday said it has generated Rs. 22 billion in income for its network of independent driver and merchant earners during the first quarter of FY2026/27, up 50% from a year earlier.

The platform contributed Rs. 773 million in national taxes during the quarter, maintaining strong operational momentum despite temporary fuel supply disruptions stemming from the Middle Eastern conflict.

The company reported revenue of Rs. 2.5 billion for the quarter, a 40% increase from Rs. 1.8 billion recorded in the corresponding period last year. Despite fuel rationing and the operational challenges experienced during the quarter, revenue growth was driven by a 40% year-on-year increase in average monthly unique consumers, an all-time high during the quarter, reflecting the continued expansion of PickMe’s marketplace ecosystem.

This growth translated into a 43% year-on-year increase in total platform movements, while Gross Transaction Value (GTV), the total value of trips and deliveries facilitated through the platform, increased 48% year-on-year to Rs. 25.3 billion from Rs. 17 billion in the corresponding quarter last year. 

Over 85% of this value flowed directly to PickMe’s network of independent drivers and merchant earners, highlighting the platform’s growing role in creating livelihoods, supporting entrepreneurship and enabling digital commerce across Sri Lanka.

Chairman Ajit Gunewardene said the results reflect the broader economic value created through the platform’s continued expansion. 

“These results represent far more than business growth. Every transaction facilitated through PickMe creates income for drivers, business for merchants and greater convenience for consumers, generating meaningful economic value across the country. That is where the real significance lies: not in what the platform earned, but in what it enabled others to earn. As the marketplace grows, sustaining and widening that contribution is the responsibility we carry.”

While year-on-year growth remained strong, the company noted that sequential performance moderated from the exceptionally strong fourth quarter of FY2025/26, which has historically been PickMe’s strongest quarter due to seasonal demand. 

Net revenue eased by 1%, primarily due to fuel supply constraints and quota-related disruptions that temporarily affected driver availability. Higher fuel prices also weighed on consumer affordability, contributing to softer trip volumes during the quarter. Nevertheless, average monthly unique consumers continued to grow by 3% quarter-on-quarter, demonstrating the resilience of customer engagement despite the temporary market disruption.

Founder/CEO Jiffry Zulfer said PickMe’s long-term focus remains on expanding the value created across its marketplace rather than simply growing the platform itself. “Every quarter of growth on the platform translates into more earning opportunities for our driver earners, more business for merchants and greater convenience for millions of Sri Lankans. That multiplier effect is what drives our investment strategy. We will continue strengthening supply-side reliability, investing in technology and expanding our regional presence so that the value created by the platform reaches even more people and communities across the country.”

Net profit for the quarter increased 45% year-on-year to Rs. 631 million from Rs. 437 million in the corresponding period of the previous financial year. Sequentially net profit moderated by 10% compared with the record fourth quarter of FY2025/26, reflecting softer marketplace volumes, higher IT infrastructure and subscription costs, and the impact of currency depreciation. The company stated that the result demonstrates the resilience of its operating model despite temporary external disruptions.

PickMe said it has evolved beyond a mobility platform into one of Sri Lanka’s largest digital marketplaces, connecting millions of consumers with a growing network of independent drivers and merchant earners. By facilitating transportation, deliveries and digital commerce at scale, the platform continues to generate significant economic value while supporting livelihoods, small businesses and the country’s ongoing digital transformation.