Skip to main content
LIVE SUN, 6 SEPT, 2026 BENGALURU · 28°C EDITION № 129 · FREE · NO LOGIN
STARTUPS STARTUPS · 2 MIN READ

Cars24 cuts FY26 net loss by 19% despite 18% revenue drop

Used car marketplace Cars24 reduced its net loss by 18.7% to ₹441.1 crore in fiscal year 2026 from ₹542.7 crore in FY25, according to inc42.com.

Used car marketplace Cars24 reduced its net loss by 18.7% to ₹441.1 crore in fiscal year 2026 from ₹542.7 crore in FY25, according to inc42.com. This improvement occurred despite an 18.3% decline in operating revenue to ₹5,091.7 crore. The startup’s revenue from product sales fell 22.7% to ₹4,438.8 crore, while revenue from services more than doubled to ₹205.6 crore.

Cars24’s total income, including other income of ₹128.3 crore, stood at ₹5,220 crore for FY26. The company had announced in May that it achieved adjusted EBITDA profitability for the first time in Q4 FY26, posting an adjusted EBITDA of ₹20 crore. The startup credited this to AI-driven efficiencies, growth in core businesses and lending verticals, network effects, and reduced customer acquisition costs. However, its cash and cash equivalents dropped to ₹377.1 crore at the end of March 2026 from ₹860.8 crore a year earlier, while total borrowings rose nearly 17% to ₹958.6 crore.

Founded in 2015 by Vikram Chopra, Mehul Agrawal, Gajendra Jangid, and Ruchit Agarwal, Cars24 operates an online marketplace for used cars. The company’s financial results highlight challenges in maintaining top-line growth amid market conditions but also show progress in operational efficiency and profitability metrics. The increase in service revenue and adjusted EBITDA profitability mark important milestones as the company prepares for its IPO.

Cars24’s financial disclosures for FY26 reveal a mixed performance with a significant reduction in net loss alongside revenue contraction and increased borrowings. The company’s next major update will likely come with its IPO filing, which investors will scrutinize for further insights into its growth strategy and financial health.

Editorial standards. Reported and edited at Startupniti's news desk from the sources listed in the right rail. Every fact traces to a citation. If something looks wrong, write to corrections.
▸ WIRE
Premium content free for first 12 months · sign up to unlock Razorpay subscriptions launch Jan 2027 — ₹199/mo or ₹999/yr Every story reads every Indian tech source so you don't have to Every article cited · trust the source, not just the byline India's startup desk, edited daily Founders · Funding · Policy · Tech — three crawls a day Premium content free for first 12 months · sign up to unlock Razorpay subscriptions launch Jan 2027 — ₹199/mo or ₹999/yr Every story reads every Indian tech source so you don't have to Every article cited · trust the source, not just the byline India's startup desk, edited daily Founders · Funding · Policy · Tech — three crawls a day