Chennai: Online car sales portal CarDekho announced its annual result for the financial year 2018-19 and the company said it has recorded revenue growth of 62 per cent in its overall business in comparison to last year.
A release said, the revenue from used car transaction services business achieved a year-over year (y-o-y) growth of 140 per cent. The business unit posted a $21 million exit run rate in FY19.
This year CarDekho has also been able to reduce its pre-marketing operation burn by eight per cent to $0.2 million. EDITDA remained positive for the year which will help in investment for business in FY 19-20, the firm said.
The Q4 result of CarDekho remained most promising scaling the group’s revenue growth by 70 per cent and used car business growth by 340 per cent 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 per cent in the quarter.
The company has also been able to achieve 43 per cent year-on-year growth in its new car business sales, the release said.