CarTrade slips 7%, stock at new low on second straight quarterly loss

For H1FY22, CarTrade Tech posted net loss of Rs 81.47 crore against a net profit of Rs 63.57 crore during the same period of FY21

Shares of CarTrade Tech dropped 7 per cent and registered a new low at Rs 1,153 on the BSE in Friday’s intra-day trade after the company reported a net loss for the second straight quarter of current fiscal. CarTrade Tech operates online platforms for buying and selling of vehicles. This is the first quarterly results announcement by the company which recently concluded its initial public offer (IPO).

The stock was quoting at its lowest level since its listing on Friday, August 20, 2021. With today’s fall, the market price of CarTrade Tech has declined 29 per cent from its