Highest ever revenue reported with growth of 35% and 189% Surge in Profit after Tax in H1FY25

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CarTrade Tech Limited

31 Oct, 2024, 13:31 IST

MUMBAI, India, Oct. 31, 2024 /PRNewswire/ -- CarTrade Tech Limited, one of India's largest online classifieds and auto auction platforms, announced its unaudited financial results for the quarter ended September 30th, 2024. In Q2FY25, the company reported a Total income of Rs.172 crores and Profit after tax of Rs. 31 crores.

Key Highlights – Q2FY25:

  • Recorded highest ever Revenue of Rs. 172.23 crores in Q2FY25, resulting in growth of 27%.
  • EBITDA for the quarter is at Rs. 32.70 crores, resulting in growth of 54%.
  • Adjusted EBITDA for the quarter is at Rs. 56.81 crores, resulting in growth of 37%.
  • Profit before tax for the quarter is at Rs. 37.14 crores, resulting in growth of 44%.
  • Profit after tax for the quarter is at Rs. 30.73 crores, resulting in growth of 509%.

Key Highlights – H1FY25:

  • Recorded highest ever Revenue of Rs. 328.59 crores in H1FY25, resulting in growth of 35%.
  • EBITDA for H1FY25 is at Rs. 54.28 crores, resulting in growth of 104%.
  • Adjusted EBITDA for H1FY25 is at Rs. 99.62 crores, resulting in growth of 38%.
  • Profit before tax for H1FY25 is at Rs. 61.30 crores, resulting in growth of 48%.
  • Profit after tax for HFY25 is at Rs. 53.62 crores, resulting in growth of 189%.

Consolidated results for the quarter and half year ended September 30th, 2024

Particulars (Rs. in Crores)

Q2FY25

Q2FY24

Y-o-Y

H1FY25

H1FY24

Y-o-Y

Total Income

172.23

135.91

27 %

328.59

242.83

35 %

Adjusted EBITDA

56.81

41.49

37 %

99.62

72.44

38 %

EBITDA

32.70

21.18

54 %

54.28

26.65

104 %

Profit Before Tax (PBT)

37.14

25.78

44 %

61.30

41.55

48 %

Profit After Tax (PAT)

30.73

5.04

509 %

53.62

18.56

189 %

Operational Highlights

  • Received average monthly unique visitors in Q2FY25, at ~77 million, more than 95% of which are organic.
  • The company is now present in 450+ Physical Locations, including Shriram Automall, CarWale abSure and Signature Dealers & OLX India Franchisee.

Commenting on the company's performance, Mr. Vinay Sanghi, Chairman and Founder, CarTrade Tech, said,

"We are pleased to report a remarkable financial performance for Q2FY25, achieving the highest-ever quarterly revenue of Rs. 172 crores, marking a 27% growth year-over-year. This robust quarter-on-quarter performance has resulted in a 44% increase in profit before tax, underscoring the strength and leadership across all segments we operate in. Our results also reflect the operating leverage built into our model, driving a substantial increase in EBITDA by 54% and lifting our profit after tax to Rs. 31 crores this quarter."

About CarTrade Tech Limited: (www.cartradetech.com) (NSE: CARTRADE) (BSE:543333)

CarTrade Tech Ltd. is a multi-channel auto platform with its presence across all vehicle types and value-added services. The platform got ~77 million average monthly unique visitors in Q2 FY25 and based on Q2 FY25 annualized numbers has 1.4 Mn listings for auction. The platform operates under several brands: CarWale, CarTrade, Olx India, Shriram Automall, BikeWale, CarTrade Exchange and Adroit Auto. These platforms enable new and used automobile customers, vehicle dealerships, vehicle OEMs, and other businesses to buy and sell vehicles in a simple and efficient manner.

For More Information, Please Contact:
COMPANY:
CIN: L74900MH2000PLC126237
Email: [email protected] I T: +912267398888

INVESTOR RELATIONS ADVISOR:
Strategic Growth Advisors Pvt Ltd.
CIN: U74140MH2010PTC204285
Shikha Puri / Riddhish Bhayani
Email id: [email protected] / [email protected]
Tel No: +91 9819282743 / +91 9029319564

For media queries contact:
Communicate India:
Akansha Chandra | +91-8373905252| [email protected]

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