Cleartrip’s Financial Struggles Deepen Despite Revenue Growth

Flipkart-owned Cleartrip reported significant financial challenges in FY24, spending ₹988 crore to generate just ₹97 crore in net revenue, resulting in a loss of ₹810 crore. Although its revenue almost doubled compared to the previous year, high expenses like employee benefits (₹400 crore), marketing (₹128 crore), and payment gateway fees (₹91 crore) overshadowed this growth. Discounts totaling ₹525 crore further eroded its earnings. With a negative EBITDA margin of -399%, Cleartrip’s losses widened by 18% from FY23, raising concerns about its competitiveness against profitable rivals like MakeMyTrip and EaseMyTrip.