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CarDekho Group reports 11% fall in FY24 net revenue; net loss narrows

Economic Times

Economic Times · 6m

CarDekho Group reports 11% fall in FY24 net revenue; net loss narrows

Jaipur-based CarDekho Group reported an 11% YoY decline in net revenue at Rs 2,074 crore in fiscal 2024. However, after excluding income from discontinued used-car sales, the company reported a 54% growth in revenue from operations, reaching Rs 1,347 crore. CarDekho's net loss narrowed to Rs 340 crore in FY24. The company attributed its revenue growth to its insurance marketplace InsuranceDekho and fintech platform Rupyy. CarDekho also raised $80 million in growth capital and acquired shared mobility platform Revv. Competitors like Cars24 and Spinny also reported growth in operating revenue.

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