CarTrade spurts on reporting turnaround PAT of Rs 43 crore in Q3

CarTrade Tech rallied 5.50% to Rs 1,444.15 after the company reported consolidated net profit of 42.69 crore in Q3 FY25 as against net loss of Rs 24.23 crore posted in Q3 FY24.

Total income jumped 27.05% year on year (YoY) to Rs 192.94 crore in the quarter ended 31 December 2024.

Profit before tax (PBT) doubled to Rs 53.39 crore in the December 2024 quarter, compared to Rs 26.76 crore posted in the same quarter last year.

EBITDA for the quarter was at Rs 50.08 crore, resulting in growth of 98% YoY, while adjusted EBITDA during the quarter stood at Rs 70.17 crore, registering a growth of 62% on a YoY basis.

Average monthly unique visitors in Q3 FY25 stood at around 79 million, more than 95% of which are organic.

The company stated that consumer group led the growth, achieving a 38% revenue increase and a 172% PAT growth. The remarketing business also showed impressive results, with 28% revenue growth and a 178% increase in PAT during the same period.

OLX India too continued its robust performance, with profits surging 80% in Q3 FY25 compared to Q2 FY25, it added.

Vinay Sanghi, chairman and founder, CarTrade Tech, said, We are delighted to announce strong growth this quarter. All three of our business verticals delivered their highest-ever revenue and profits, further cementing our leadership in the market. Revenue for 9M FY25 grew by 32%, and our EBITDA surged by 100%, leading to PAT zooming to Rs 99 crore. Our profit growth outpaced revenue growth, reflecting the strong operating leverage in play.

In Q3 alone, profits rose sharply by 48% to Rs 46 crore as compared to Q2. This growth underscores the tremendous potential we have ahead. As a product and technology-led organization, we continue to build on our scalable digital platform, focusing on enhancing our customer experience and expanding our market share. The progress made so far positions us strongly for sustained growth as we continue transforming the digital marketplace.

CarTrade Tech operates an automotive digital ecosystem which connects automobile customers, Automotive Manufacturers (OEMs), dealers, banks, insurance companies and other stakeholders. The platform operates under several brands: CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange and Adroit Auto. Through these platforms, the company enables new and used automobile customers, vehicle dealerships, OEMs and other businesses to buy and sell their vehicles in a simple and efficient manner.

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