Cartrade Tech Ltd Share Price – NSE  /  BSE

Retail, Small Cap

Revenue from operations jumped 42.57% to Rs 138.58 crore in Q3 FY24 from Rs 97.20 crore recorded in the corresponding quarter previous year.

The company’s total income increased 31.07% to Rs 151.86 crore in the third quarter of FY24, as compared to Rs 115.86 crore recorded in Q3 FY23.

Profit before tax from continuing operations grew by 32.81% year on year to Rs 26.76 crore during the quarter.

Adjusted EBITDA in Q3 FY24 was at Rs 43.19 crore, up 18% as compared with Rs 36.60 crore recorded in Q3 FY23. Adjusted EBITDA margin contracted to 28% in Q3 FY24 as compared to 33% recorded in the corresponding quarter previous year.

The company said that its platforms received 70 million average monthly unique visitors in Q3 FY24, of which over 90% were organic. The number of annualised listings for auctions was 1.4 million based on Q3FY24. The volumes sold via auction were 50,925 for Q3 FY24, which is 2 lakhs on an annualised basis.

The company's revenue from consumer was at Rs 49.42 crore (up 17.66% YoY) while revenue from remarketing at Rs 46.00 crore (down 17.47% YoY) in Q3 FY24.

Meanwhile, the firm’s revenue form and Classifieds was at Rs 43.10 crore respectively, during the quarter.

On 9-Month basis, the company reported consolidated net loss of Rs 8.22 crore in 9M FY24 as compared with net profit of Rs 19.04 crore recorded in 9M FY23. Revenue from operations jumped 28.66% YoY to Rs 344.67 crore in 9M FY24.

Vinay Sanghi, chairman and founder, CarTrade Tech, said, We are thrilled to announce a remarkable quarter with a stellar 31% surge in total income and a robust 56% increase in profits. This exceptional performance is a testament to our unwavering commitment to execution and leveraging the strength of our renowned brands. In a strategic move, we successfully completed our recent business acquisition of OLX and capitalized on the vast opportunities presented by the profitable classifieds business.

We persistently invest in cutting-edge technology and product development to serve over 70 million monthly unique visitors across our platforms. We acknowledge the significant potential that emanates from this extensive user base, driving us to continually enhance our offerings

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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Net loss of Cartrade Tech reported to Rs 24.23 crore in the quarter ended December 2023 as against net profit of Rs 13.03 crore during the previous quarter ended December 2022. Sales rose 42.57% to Rs 138.59 crore in the quarter ended December 2023 as against Rs 97.21 crore during the previous quarter ended December 2022.

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Cartrade Tech will hold a meeting of the Board of Directors of the Company on 8 February 2024.

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Edelweiss Financial Services Ltd, Amber Enterprises India Ltd, Raymond Ltd and Rattanindia Power Ltd are among the other losers in the BSE's 'A' group today, 28 November 2023.

Cartrade Tech Ltd tumbled 4.58% to Rs 803 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 32695 shares were traded on the counter so far as against the average daily volumes of 31421 shares in the past one month.

Edelweiss Financial Services Ltd lost 4.51% to Rs 67.75. The stock was the second biggest loser in 'A' group.On the BSE, 11.43 lakh shares were traded on the counter so far as against the average daily volumes of 5.95 lakh shares in the past one month.

Amber Enterprises India Ltd crashed 3.69% to Rs 3146. The stock was the third biggest loser in 'A' group.On the BSE, 5441 shares were traded on the counter so far as against the average daily volumes of 9598 shares in the past one month.

Raymond Ltd plummeted 3.63% to Rs 1589.2. The stock was the fourth biggest loser in 'A' group.On the BSE, 80336 shares were traded on the counter so far as against the average daily volumes of 16922 shares in the past one month.

Rattanindia Power Ltd fell 3.60% to Rs 9.37. The stock was the fifth biggest loser in 'A' group.On the BSE, 178.98 lakh shares were traded on the counter so far as against the average daily volumes of 343.35 lakh shares in the past one month.

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