Cars24 Trims FY26 Loss to ₹441 Crore as Revenue Drops 18%

4 Sept 2026, 12:07 am · 9d ago · 1 min read · Inc42

IPO-bound used car marketplace Cars24 narrowed its net loss for FY26 by 18.7% year-on-year to Rs 441.1 crore, down from Rs 542.7 crore in FY25. However, the company's operating revenue fell 18.3% to Rs 5,091.7 crore, driven by a 22.7% decline in product sales to Rs 4,438.8 crore. In contrast, services revenue grew to Rs 205.6 crore. Founded in 2015 by Vikram Chopra, Mehul Agrawal, Gajendra Jangid, and Ruchit Agarwal, the startup's cash reserves shrank to Rs 377.1 crore, while borrowings rose 17% to Rs 958.6 crore during the fiscal year.