Flipkart-owned 'Cleartrip' posts 
800 crore loss in 2024
While all online travel agencies (OTAs), including as MakeMyTrip, Ixigo, Yatra, and EaseMyTrip, have been profitable in recent quarters, Cleartrip has lost more than 
800 crore in the fiscal year that ended in March 2024, even though its sales increased by 98% year over year.
800 crore in the fiscal year that ended in March 2024, even though its sales increased by 98% year over year.
For context, in April 2021, Flipkart purchased Cleartrip for $40 million in a distressed sale. According to Cleartrip's annual financial documents obtained from the Registrar of Companies, the company's net revenue from operations increased by 98% to 97 crore in FY24 from 49 crore in FY23.
97 crore in FY24 from 49 crore in FY23.
With an emphasis on its overall business operations, Cleartrip earned 240 crore in commissions and incentives in FY24, in addition to 369 crore in customer service fees. However, the company unexpectedly reduced its net operating revenue to Rs 97 crore for FY24 by offering discounts worth 525 crore on its services and incentives.
240 crore in commissions and incentives in FY24, in addition to 369 crore in customer service fees. However, the company unexpectedly reduced its net operating revenue to Rs 97 crore for FY24 by offering discounts worth 525 crore on its services and incentives.
Now that we have covered the revenue side, let us examine the Flipkart-owned company's significant cash burn for FY24. Employee perks accounted almost 40% of Cleartrip's total expenses in FY24, a 61.3% increase to Rs 400 crore. Non-cash ESOP expenses totaling 180 crore are included in this sum. In the fiscal year that ended in March 2024, Cleartrip spent Rs 220 crore on salaries and compensation, excluding ESOPs.
180 crore are included in this sum. In the fiscal year that ended in March 2024, Cleartrip spent Rs 220 crore on salaries and compensation, excluding ESOPs.
In FY24, the company's commissions and brokerage expenses totaled Rs 70 crore, while its advertising and marketing expenditures came to 128 crore. Additionally, Cleartrip set aside 91 crore for payment gateway fees.
128 crore. Additionally, Cleartrip set aside 91 crore for payment gateway fees.
