Flipkart-owned travel platform Cleartrip’s net loss widened 28.1% YoY to ₹805 Cr in FY26 from ₹628.4 Cr in FY25, as its expenses continued to outpace revenue growth.
The online travel aggregator’s operating revenue grew 20.8% to ₹198.3 Cr during the year from ₹164.1 Cr in the previous fiscal. Including other income, Cleartrip reported total income of around ₹241.3 Cr, compared with ₹366.7 Cr in FY25. Other income declined 34.2% YoY to ₹43 Cr.
Meanwhile, spending on cashbacks and discounts rose 47.5% to ₹897.5 Cr in FY26 from ₹608.2 Cr a year earlier, outpacing top line growth.
Cleartrip generated ₹702.2 Cr from service charges and ₹378.4 Cr from commissions and incentives before accounting for cashbacks and discounts, taking the combined figure to around ₹1,095.7 Cr. These figures should be distinguished from the operating revenue reported in its financial statements.
Founded in 2006 by Hrush Bhatt, Matthew Spacie and Stuart Crighton, Cleartrip enables users to book flights, hotels, trains, buses and local activities through its website and app. Ecommerce major Flipkart acquired the company in 2021.
Cleartrip’s accumulated losses rose to ₹3,828 Cr as of March 31, 2026, from ₹3,023 Cr a year earlier. Its negative net worth also widened to ₹3,066 Cr from ₹2,262 Cr in FY25.
In its financial statements, the company said its ability to continue as a going concern depended on the success of its operations and its ability to secure funding. However, it added that its holding company, Flipkart Internet Private Limited, had provided a commitment and letter of financial support.
During FY26, Cleartrip borrowed ₹3,964 Cr from Flipkart Internet and repaid ₹3,653 Cr. Interest on these loans stood at ₹130.4 Cr for the year.
The widening loss comes as Cleartrip seeks to reduce its reliance on discounts and diversify beyond flight bookings. In July 2026, the company said it was targeting operational break-even by the end of FY27. Its plans include growing its hotels, trains and buses businesses and increasing revenue from ancillary services.
The company has also seen leadership changes in recent years. Anuj Rathi, who joined as CBO, stepped down in June 2025, less than a year after his appointment, to launch his venture, profound.me.
He was succeeded by former Flipkart executive Manjari Singhal, who previously led the ecommerce company’s beauty, FMCG and general merchandise businesses as vice-president and business head.
Before Rathi’s departure, long-standing CEO Ayyappan Rajagopal resigned from Cleartrip in August 2024 to launch quick-commerce startup FirstClub.
Where Did Cleartrip Spend?
Cleartrip’s total expenses increased 21.9% YoY to ₹1,045.9 Cr in FY26 from ₹858.2 Cr in FY25. Against operating revenue of ₹198.3 Cr, this translated into expenditure of ₹5.27 for every rupee earned from operations.
Advertisement & Sales Promotion: Cleartrip’s spending on advertising and sales promotion rose 30.9% YoY to ₹133.8 Cr in FY26 from ₹102.2 Cr a year earlier.
Employee Benefit Expenses: Employee costs increased 7.8% to ₹258.1 Cr from ₹239.4 Cr in FY25.
Payment Gateway Charges: Payment processing expenses rose 40% YoY to ₹110.1 Cr from ₹78.7 Cr.
Commission & Brokerage: Expenses under this head increased 33.2% YoY to ₹171.5 Cr from ₹128.8 Cr in FY25.
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