Auto-tech firm CarDekho Group narrows loss to Rs 246 crore in FY22

Auto-tech firm CarDekho Group on Monday said it has narrowed total losses to Rs 246 crore in 2021-22.

The group had posted a total loss of Rs 341 crore in FY21, CarDekho said in a statement.

The revenue from operations in FY22 increased to Rs 1,598 crore from Rs 884 crore in FY21, it added.

The firm -- which enables buying and selling cars and bikes, including electric vehicles, besides providing information and research; insurance broking and financing for cars on its platform -- said it witnessed significant growth across all its business segments in FY22.

"The group registered over 50 million unique monthly visitors, generated over 9 million leads, helped issue 16 lakh insurance policies and facilitated disbursal of over 1 lakh auto loans in FY22," it added.

CarDekho Group co-founder and CEO Amit Jain said the group has successfully leveraged its house of brands strategy, operating through multiple brands, such as CarDekho, BikeDekho, InsuranceDekho, Rupyy and Zigwheels.

"Our multiple business lines create opportunities for us to be present across several touch points in the consumer experience journey by offering end-to-end digital solutions," he added.

On CarDekho's IPO plans, Group Chief Financial Officer Mayank Gupta said, "...we are definitely evaluating it, subject to requisite approvals and conducive market conditions".

He said the group has a clear path to turn profitable at a consolidated level by FY24.