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Cars24 nears Rs 7,000 crore topline in FY24; net loss expands

Economic Times · 6m

Used car sales platform, Cars24, experienced a 25% growth in operating revenue during fiscal year 2024, reaching Rs 6,917 crore. The increase was driven by higher unit sales and average selling prices. However, the company also saw an expansion in its net losses, which reached Rs 498 crore compared to Rs 468 crore the previous year. Cars24 attributes its revenue growth to investments in technology and data science and plans to focus on ancillary businesses to boost margins in the future.