GoMechanic achieves operational profit in Q1FY25; FY24 revenue at Rs 210 cr

Car services and repair platform GoMechanic, which was on the verge of collapse about a year-and-a-half ago, on Tuesday said it achieved operational profit in the June 2024 quarter under the new management.

The company was acquired by Servizzy, a subsidiary of the Lifelong Group, in March 2023 after anomalies in its financial records were found under previous management and the firm was put on sale by the investors.

Under the new management, GoMechanic has posted a revenue of Rs 210 crore in the financial year 2023-24 and a revenue of Rs 85 crore in the April-June 2024 quarter.

"GoMechanic proudly announces a major milestone achieved under the guidance of its new founders Himanshu Arora and Muskan Kakkar. The company has turned EBITDA positive in the first financial quarter of this year. This significant achievement marks a pivotal moment in GoMechanic's evolution, highlighting its growth and innovation in the auto service industry," the company said in a statement.

The company pos