Published on: Wednesday, 31 July 2024 ● 3 Min Read
MUMBAI, India, July 31, 2024 -- CarTrade Tech Limited, one of India's largest online classifieds and auto auction platforms, announced its unaudited financial results for the quarter ended June 30th, 2024. In Q1FY25, the company reported a Total income of Rs.156.36 crores and Profit after tax of Rs. 22.90 crores.
Key Highlights – Q1FY25:
Consolidated results for the quarter ended June 30, 2024
Particulars (Rs. in Crores) | Q1FY25 | Q1FY24 | Growth % |
Total Income | 156.36 | 106.91 | 46 % |
Adjusted EBITDA | 42.81 | 30.95 | 38 % |
Profit After Tax (PAT) for the period | 22.90 | 13.51 | 69 % |
Operational Highlights
Commenting on the company's performance, Mr. Vinay Sanghi, Chairman and Founder, CarTrade Tech, said,
"I'm pleased to report a very good start to the year, with total income registering YoY growth of 46% and Profit After Tax growing by 69%. CarTrade Tech has a strong history of successful M&A integrations, including the recent integration of OLX India, which is already yielding positive results. Our brands CarWale, BikeWale, Shriram Automall, and OLX India remain leaders in their respective markets. We aim to leverage our brand leadership and technological expertise to explore innovative opportunities, catering to our unique monthly visitor base of 70 million across various platforms."
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 ~70 million average monthly unique visitors in Q1 FY25, and based on Q1 FY25 annualized numbers has 1 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: CarTrade Tech Limited
CIN: L74900MH2000PLC126237
Email: investor@cartrade.com | T: +912267398888
INVESTOR RELATIONS ADVISOR:
Strategic Growth Advisors Pvt Ltd.
CIN: U74140MH2010PTC204285
Shikha Puri | Riddhish Bhayani
Email ID: shikha.puri@sgapl.net | riddhish.bhayani@sgapl.net
Tel No.: +91 9819282743 | +91 9029319564
For media queries, contact:
Communicate India
Manish Kadam | +91 +91 93242 86677 | manish.kadam@communicateindia.com
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