Tapsi Reports 205 Billion Toman in Net Profit

Iranian ride-hailing company Tapsi has posted a net profit of 205 billion tomans for the fiscal year 1403 (ending March 2025), according to newly released financial statements. The company reported annual revenues of 2,342 billion tomans.

As reported by Digiato, Tapsi spent 2,911 billion tomans over the past year to expand and reinforce its driver and passenger network—an investment it classifies as a "transfer expense" aimed at securing competitive advantage and market expansion. Only 621 billion tomans of these expenses were amortized in 1403, directly impacting the company’s net profit.

Audited financial statements also show that Tapsi owes over 169 billion tomans in value-added tax, covering the period from summer 2022 to winter 2025. This tax liability has significantly affected the company’s profitability.

Despite a 125% surge in operating revenue compared to the previous year, Tapsi's net profit grew by only 15%, highlighting increased costs and liabilities.

One of the more notable figures in Tapsi's financial report is a threefold increase in revenue from service offerings, totaling 28.6 billion tomans. This income includes fees from payment gateways and revenue from in-app advertising—an area that has grown substantially since Tapsi began integrating ads into its super app in late 1402.

According to the company’s board of directors, Tapsi is targeting a 70% increase in ride volume in the current year.