- Cars24, an e-commerce platform for pre-owned vehicles, achieved modest growth with a 7.8% increase in revenue from operations to Rs 5,535 crore in FY23.
- The company generated 93% of its revenue from car sales, which increased by 6.2% to reach Rs 5,164 crore in FY23.
- Income from Cars24’s financial services doubled during the fiscal year.
- Cost of procurement of cars accounted for 81% of the company’s overall expenditure.
- The company managed to control its costs and reduced its net losses by 57.2% to Rs 468 crore in FY23 compared to FY22.