Pakistan’s BusCaro reports profitability for the first time

Pakistan-based bus-hailing service BusCaro has reached a new milestone as it reported a positive Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) since April 2026 – up from -9% between Pakistan’s fiscal year of July 2024 and June 2025.

BusCaro reached the milestone in less than four years of operations and with a reported lifetime burn of $1.4 million, Founder and CEO Maha Shahzad said while speaking with Zag Daily.

BusCaro’s annual revenue increased from $4.5 million to $6.5 million in its fourth year of operations, while annual recurring revenue reached $7.1 million, she further added.

The figures, Shahzad highlighted, come against a backdrop of a tougher global macroeconomic climate defined by tightening global funding, political conflict and inflation.

BusCaro, started in 2022, offers shared commute services.

More than 30 million bookings have been made under BusCaro to date – 10 million more than was reported less than a year ago.

“The biggest driver has been the team behind it and their belief in what they’re building. They’ve kept going even when it looked very unlikely we’d make it over the line,” Shahzad said.

“This relentless focus on the customer and operational excellence is why our customers stay. Several of our customers have been with us since day one and across all bookings we have maintained 99.5% reliability. Simply put, our customers have no reason to leave.”