Cars24, a prominent player in the used car platform sector in India, faced a challenging fiscal year ending in March 2025. Despite a robust 25% year-on-year growth in the previous fiscal year, the company experienced a significant 10% decline in its operating scale, coupled with a 9% increase in net losses to Rs 543 crore.
The firm’s gross revenue dropped from Rs 6,910 crore in FY24 to Rs 6,233 crore in FY25, according to the company’s financial filings with the Registrar of Companies (RoC).
Notably, the majority of Cars24’s revenue, about 92%, came from the sale of cars through auctions and retail, amounting to Rs 5,733 crore in FY25. Additionally, income from financial services, particularly interest on loans, contributed around Rs 215 crore during the same period.
Procurement of cars remained the largest cost center for the company, representing 81% of total expenses, with costs declining to Rs 5,555 crore in FY25 in line with the reduced scale. On the other hand, employee benefits expenses rose by 15% to Rs 604 crore, including ESOP costs.
Moreover, Cars24 recorded non-operating income of Rs 125 crore from various sources, pushing its total income to Rs 6,358 crore for the fiscal year. Despite the challenging fiscal performance, the company reported an 18% year-on-year increase in adjusted net revenue to Rs 651 crore in the first half of FY26.
Source: Entrackr : Latest Posts