January 18, 2025
Auto-tech solutions provider CarDekho anticipates a revenue increase exceeding 60% for the current fiscal year. In the previous fiscal year, the company reported revenues of ₹2,331 crore and is now projecting significant growth by March 2025. Notably, CarDekho achieved net income positivity in its core business during the September quarter of FY24. The company had previously reported a loss of ₹562 crore for the fiscal year ending March 31, 2023. This positive shift is attributed to strategic decisions, including the discontinuation of its used car franchise retail and consumer-to-dealer businesses, aiming for an asset-light model with improved unit economics. Currently, CarDekho leads the auto-tech market, handling transactions worth over $2.2 billion annually and maintaining a cash reserve exceeding ₹1,200 crore for future growth initiatives. The company has also turned EBITDA-positive in its core businesses during the first two quarters of this fiscal year, marking a significant step toward sustainable profitability.
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