CarDekho’s revenue increases by 62% to Rs 260 crore
Girnar Sofware, which runs CarDekho, said that revenues earned from its used-car business and affiliate services such as insurance and financing achieved a 140% year-on-year growth.
The business unit posted a $21-million (approx Rs 145 crore) exit run rate in FY19, said a company statement.
“The supply of used cars is already created because the market is dependent on cars sold around four years back. It’s a sustained and predictable model based on number of cars sold three to four years ago unlike the new car market,” said Amit Jain, co-founder of CarDekho.
CarDekho’s new car business grew 40% year-on-year in the previous fiscal. The company said the unit had an exit run rate of $26.4 million (approx Rs 182 crore), staying in the green despite the slump in new car sales during the year. In terms of losses, the firm said it was able to reduce its pre-marketing burn 8% to $0.2 million (approx Rs 138 crore) for the year.