CarTrade Tech Q3 Results: Firm Swings To Profit; Shares Surge 9%
CarTrade Tech rose as much as 8.92% to Rs 1,489.95 apiece, the highest level since Jan. 21.
Shares of CarTrade Tech Ltd. surged nearly 9% after it swung to profit in the third quarter of this financial year.
The online classifieds and auto auction platform reported a net profit of Rs 42.7 crore for the quarter ended December, compared to a loss of Rs 24.2 crore in the same quarter of the previous fiscal year, according to a stock exchange notification. However, the year-ago period had a one-time loss of Rs 45.6 crore.
Revenue increased by 27.2% year-on-year for the three months ended December, reaching Rs 176 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 98.1% year-on-year to Rs 50.1 crore. The Ebitda margin expanded to 28.4% from 18.2% in the same period the previous year.
The topline growth was led by the consumer group, with segment revenue rising 38% year-on-year, followed by remarketing that delivered a 28% revenue growth.
The company received 79 million average monthly unique visitors in the third quarter with more than 95% being organic. The app downloads stood at 100 million.
So far in financial year 2025 there were a total of 1.5 million listings on the platform.
The company has a cash balance of Rs 885 crore, it said in its investor presentation.
"Revenue for 9MFY25 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," said Vinay Sanghi, Chairman and Founder, CarTrade Tech.
CarTrade Tech Shares Rise Nearly 9%
The shares of CarTrade Tech rose as much as 8.92% to Rs 1,489.95 apiece, the highest level since Jan. 21. It pared gains to trade 6.36% higher at Rs 1,454.95 apiece, as of 12:42 p.m. This compares to a 0.81% advance in the NSE Nifty 50 Index.
It has risen 97.21% in the last 12 months and xx% year-to-date. Total traded volume so far in the day stood at 2.8 times its 30-day average. The relative strength index was at 51.
Out of six analysts tracking the company, five maintain a 'buy' rating and one suggests 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an downside of 3%.
