India, Feb. 17 -- Auto marketplace CarDekho Group managed to trim its consolidated net loss by nearly 40% to INR 340.08 Cr in the financial year 2023-24 (FY24) from INR 566.13 Cr in the previous fiscal year.

The Jaipur-based startup managed to rein in its loss on the back of cost savings from the company shutting down its retail used car business.

Meanwhile, operating revenue fell 3.49% to INR 2,250.43 Cr during the fiscal year under review from INR 2,331.88 Cr in FY23.

As a result of the startup winding down its used car retail business in May 2023, its revenue from products declined 81% to INR 176.64 Cr in FY24 from INR 952.22 Cr in FY23.

CarDekho earns revenue by selling advertisements and digital marketing solutions to automakers ...