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In FY23, Cars24s operating revenue grew 7.7% year-on-year to Rs 5,535 crore. Compared to this, in FY22, the companys revenue from operations had posted an on-year growth of 87% to Rs 5,136.5 crore.
CarTrade, in collaboration with OLX, will attract roughly 68 million average monthly unique visitors and have 32 million listings on an annual basis, the company said in a statement.
OLX, one of the country's leading classified players with more than 100-plus million app downloads, operates in 12 broad categories including cars, bikes, real estate, electronics, etc.
The company had earlier said that it was acquiring 100% of Sobek Auto India Pvt Ltd, the entity that houses OLX India's auto business, but added in a new statement that Sobek also consists of the OLX classifieds platform.
India Business News: NEW DELHI: CarTrade Tech will acquire OLX India’s auto sales business in a Rs 537-crore deal, the Mumbai-based company said in a stock exchange filing.