Used-car market Cars24 reported regular beneficial properties in income and working effectivity within the first half of FY26, even because it stored transaction GMV largely flat, and stated it’s making ready for an IPO in India inside the subsequent 6-12 months.

In a efficiency replace shared by the corporate and founder and CEO Vikram Chopra, Cars24 stated its adjusted internet income rose 18% yr on yr to Rs 651 crore in H1 FY26. Over the identical interval, its adjusted EBITDA loss narrowed 36% to Rs 162 crore, aided by tighter value controls and better automation.

Working bills remained broadly flat at Rs 719 crore regardless of income development. The corporate stated GenAI-led automation throughout pricing, inspections, doc verification and buyer calls helped cut back inspection time by practically 30% whereas holding prices in examine as volumes scaled. Cars24 invested Rs 95 crore in know-how through the half yr.

Car transaction gross merchandise worth (GMV) declined 5% yr on yr to Rs 3,731 crore in H1 FY26. The corporate stated it intentionally shifted extra automobiles towards retail transactions as an alternative of wholesale, prioritising profitability over volumes. Retail GMV grew 21% to Rs 2,009 crore and accounted for over half of whole transaction GMV, whereas retail margins expanded to 19.3% through the interval.

Cars24 facilitated practically 85,000 automobile transactions throughout India, the UAE and Australia within the first half and stated it’s on monitor to cross 1.8 lakh transactions in FY26.

Financing emerged as a key development lever. Mortgage disbursements by means of the platform elevated 38% yr on yr to Rs 1,637 crore globally. In parallel, automobile possession companies, together with insurance coverage, inspection experiences, buyback and compliance merchandise, generated Rs 94 crore in GMV, practically 19 occasions greater than a yr earlier.

Worldwide operations additionally strengthened. The UAE enterprise turned worthwhile on the adjusted EBITDA stage, posting a revenue of Rs 9 crore in H1 FY26, with retail margins of round 24%. Australia reported about 20% year-on-year development in GMV and over 22% development in adjusted internet income.

Sharing the monetary replace, Chopra stated Cars24 is focusing on an preliminary public providing in India inside the subsequent six to 12 months.

Wanting forward, the corporate expects to cross Rs 750 crore in adjusted internet income within the second half of FY26, implying round 35% year-on-year development, because it continues to concentrate on earnings high quality quite than headline GMV development.

Chopra added that the platform has expanded past its authentic buy-and-sell mannequin over the previous 18 months right into a broader automobile possession ecosystem, with choices akin to insurance coverage, challan funds, pre-delivery inspections and automobile historical past experiences beneath CarTruth, buyback options and chauffeur companies by means of Chauferly.

Earlier this month, Cars24 acquired Delhi-based vehicle information and management platform CarInfo, as a part of its technique to deepen knowledge capabilities and strengthen its ownership-services stack forward of the deliberate itemizing.