CarDekho posts 62% revenue growth

CHENNAI:

CarDekho

has recorded 62%

revenue growth

in its overall

business

in comparison with that in last year.

The revenue from used car transaction services business achieved an impressive year-over-year growth of 140%.

The business unit posted a $21 million exit run rate in FY19. This year CarDekho reduced its pre-marketing operation burn by 8% to $0.2 million.

EBITDA

remained positive for the year which will help in investment for business in FY 19-20.

The Q4 result of CarDekho showed revenue growth by 70% and used car business growth by 340% given the rapid expansion of CarDekho’s transaction business across finance and insurance market place. The company’s exit revenue run rate growth has been 30% in this quarter. The company has also been able to achieve 43% YOY growth in its new car business

sales

.

Amit Jain, co-founder and CEO of CarDekho, said, "We have delivered on the financial commitments that we had set for ourselves and our shareholders by achieving such encouraging growth this year. At the same time, we have been able to control our operating burn while continuing to invest in future growth priorities.”

This year, CarDekho expanded its new car dealer partnerships to more than 2,500 dealers via partnerships with OEMs and independent dealers and contributed to 310K+ transactions worth over $1.2 billion (new cars & bikes) for the OEMs and dealers.


The company also launched ‘Gaadi by CarDekho’, its consumer to dealer retail auctions business, which has posted transactions of over 800 cars across 12 stores in Delhi-NCR (accounting for 15-20% market share), within two months of its launch. It has now forayed in the southern market with 12 new stores in Bengaluru and plans to increase it to 200 stores by 2020.


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