CarDekho Group reported a consolidated net loss of 340.08 crore rupee (US$39.15 million) for FY24, a 39% decrease from 566.13 crore rupee (US$65.17 million) in FY23.

The company attributed the improvement to cost savings from closing its used car retail business in May 2023.

Operating revenue declined by 3.49% to 2,250.43 crore rupee (US$259.04 million), and revenue from product sales dropped by 81% to 176.64 crore rupee (US$20.33 million)due to the discontinuation of the retail used car operations.

Marketing expenses increased by 13.62% to 700.49 crore rupee (US$80.63 million), while overall expenses decreased by 8.62% to 2,669.39 crore rupee (US$307.27 million).

Founded in 2008, CarDekho operates platforms like InsuranceDekho, Revv, and TractorsDekho, and has expanded into Southeast Asia.

In December 2024, it secured US$60 million in funding.

CarDekho plans to go public later this year with a US$500 million IPO, potentially valuing the company between US$2 billion and US$2.5 billion.

Recent CarDekho developments