CarDekho revenue from operation increases by 81% in FY22: Reports
- ByStartupStory | January 2, 2023
IPO-bound CarDekho Group, said on Monday that its consolidated revenue from operations increased by 81% to Rs 1,598 crore in FY22 from Rs 884 crore in 2021.
A $1.2 Billion unicorn narrowed its losses by 28%, to Rs 246 crore in FY22 from Rs 341 crore in FY21.
“The stellar business growth is a testament to the trust reposed in CarDekho Group by over 50 million visitors, over 5,000 used car loan agent partners, more than 50,000 insurance partners in over 1,300 cities and more than 3,500 used car dealers as of March 2022,” said Amit Jain, Co-founder and CEO, CarDekho Group.
“We are confident that our homegrown insuretech and fintech solutions, InsuranceDekho and Rupyy, will remain strong growth engines contributing to a significant profit pool,” Jain added.
As per reports, the company stated that it has Rs 1,000 crore in net cash and is on track to be profitable by FY24.
“The group continues to focus on driving profitable growth coming from the benefits of operating leverage, continuous focus on improving unit economics across all our business lines, and implementing technology-led innovations across the platforms,” said Mayank Gupta, Group Chief Financial Officer.