Digital Mobility Solutions Lanka PLC (DMSL), the company behind Sri Lanka’s leading mobility platform PickMe, recorded its strongest financial performance to date, reporting a remarkable surge in revenue and profitability for the financial year ended March 31, 2026 (FY25/26).
The company announced annual revenue of Rs.8.7 billion, reflecting a 49 percent increase from Rs.5.8 billion recorded in the previous financial year, underscoring the growing demand for PickMe’s digital mobility and delivery ecosystem across the island.
A key indicator of the platform’s economic contribution, the gross transaction value (GTV), which represents the total value of rides and deliveries facilitated through PickMe, climbed to Rs.84.5 billion from Rs.56.9 billion in FY24/25. Of this amount, more than Rs.73 billion was distributed directly among PickMe’s network of independent drivers, delivery partners, and merchant earners, highlighting the platform’s expanding role in supporting entrepreneurship and income generation in Sri Lanka.
The company also contributed significantly to the national economy through tax payments amounting to Rs.2.7 billion, including VAT, SSCL, and corporate taxes.
The strong financial performance was fuelled by rising consumer adoption, increased engagement across all service categories, and growing demand for mobility, food delivery, and merchant services. These factors collectively widened income opportunities for thousands of earners connected to the platform.
DMSL reported a substantial rise in profitability, with operating profit increasing by 90 percent year-on-year to Rs.3.1 billion, compared to Rs.1.6 billion in the previous year. Net profit also grew sharply, climbing 88 percent to Rs.2.2 billion from Rs.1.2 billion.
Beyond financial growth, PickMe continued to expand its contribution to Sri Lanka’s shared economy ecosystem. The platform now supports more than 167,000 independent drivers and delivery riders nationwide, while average driver net earnings increased by over 14 percent during the year.
The company further strengthened financial inclusion efforts through its Rent-to-Own electric vehicle programme, developed in partnership with Browns EV and LOLC Holdings. The initiative enables micro-entrepreneurs to transition from temporary income earners to long-term asset owners while reducing the burden of increasing fuel expenses.
PickMe also enhanced opportunities for Sri Lanka’s SME sector, empowering over 5,000 merchant earners, including restaurants, small businesses, and home-based enterprises, with access to digital commerce infrastructure, logistics support, and broader customer reach. By lowering operational barriers and minimising upfront investment requirements, the platform continued to foster resilience and business growth among local entrepreneurs.
Commenting on the results, DMSL Founder and CEO Jiffry Zulfer said the company’s performance reflected the increasing adoption of its digital mobility ecosystem and validated its long-term platform strategy.
“As we move into the next financial year, our focus remains on deepening user engagement, enhancing customer experience, and creating greater value across our ecosystem,” Zulfer stated. “We see considerable room for future growth and remain confident in our ability to sustain this momentum while building a stronger and more rewarding platform for all stakeholders.”
Despite challenging operating conditions during the fourth quarter, DMSL maintained strong growth momentum. Quarterly revenue reached Rs.2.5 billion, marking a 46 percent increase from Rs.1.7 billion recorded during the same period last year.
The company successfully navigated external challenges, including disruptions linked to the Middle East crisis, rising domestic fuel prices, and QR code-based fuel rationing measures. Even amid these pressures, PickMe sustained operational efficiency and safeguarded earning opportunities for its network of micro-entrepreneurs through marketplace optimisation and platform improvements.
Platform activity during the quarter increased by 49 percent year-on-year, driven by record monthly unique consumers and stronger engagement from independent third-party drivers. Sequentially, activity also rose by 15 percent compared to the previous quarter, which had experienced operational setbacks due to Cyclone Ditwah.
Profitability remained strong during the quarter, with operating profit rising by 84 percent to Rs.985 million from Rs.534 million a year earlier. The operating profit margin improved to 39 percent from 31 percent, supported by increased transaction volumes, pricing optimisation, operational leverage, and disciplined cost management, particularly within IT infrastructure.
Meanwhile, net profit after tax for the quarter surged 86 percent to Rs.698 million, compared to Rs.375 million during the corresponding quarter of the previous financial year. On a quarter-on-quarter basis, profits also increased by 26 percent, signalling sustained earnings momentum.
DMSL Chairman Ajit Gunewardene said the results reflected the resilience of the company’s business model and the effectiveness of its long-term growth strategy.
“The FY25/26 performance demonstrates the strength of our platform and disciplined execution, even within a rapidly evolving operating environment,” Gunewardene noted. “We remain focused on sustainable growth through prudent investments, responsible capital allocation, and long-term shareholder value creation.”
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. Combined with the interim dividend of Rs.1.70 per share distributed in November 2025, total dividends for the year are expected to reach Rs.4.30 per share, representing a cash payout ratio of 65 percent.
