India, Oct. 9 -- Spinny has spun off a narrative that India's largely fragmented market of clunkers and trade-ins is on a swing.

The full-stack used-car platform last week saw its FY25 topline zoom 25% to INR 4,657 Cr, while it slammed the brakes on its losses from skidding beyond 28% at INR 424 Cr. This was the second straight year for the company to cut down on losses.

Although most new-age tech platforms are deep into the red and struggling to set the unit economics after raising capital in quick succession, the financials for the last fiscal tell a different tale. While Car Dekho hopes to rebound in FY25, Cars24 promises to keep up the revenue momentum.

In fact, a look into the used-car startup segment shows that all roads now lead...