CarTrade Tech swings to profit in Q3, helped by strong demand in festive season
Automotive company CarTrade Tech saw its quarterly revenue surge to Rs 193 crore amidst rising monthly unique visitors during the period.
Multi-channel auto platform, CarTrade Tech, reported a profit in Q3 FY25, swinging from a loss in the year-ago period, helped by growth in its consumer group segment amidst strong festive demand.
It reported a profit of Rs 46 crore during the period, compared with a loss of Rs 23.55 crore in the year-ago quarter.
The company’s consumer group includes the pre-owned car sales platform, CarWale, and the online bike marketplace, BikeWale.
It reported a 38% year-on-year (YoY) rise in revenue in its consumer group segment. In November last year, the company had laid down its expectations that this segment would report a 30% YoY rise revenue due to strong festive demand in October.
The festive season every year is a time of increased consumer activity, with car dealerships and platforms often offering attractive discounts and deals to vehicle buyers.
“We are delighted to announce strong growth this quarter. All three of our business verticals delivered their highest-ever revenue and profits, further cementing our leadership in the market. 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, in a statement.
The company also received an average of about 79 million monthly unique visitors in Q3 FY25, of which more than 95% were organic.
CarTrade Tech operates under several brands, including CarTrade, Olx India, Shriram Automall, BikeWale, CarTrade Exchange, and Adroit Auto, which enable new and used automobile customers, vehicle dealerships, vehicle original equipment manufacturers, and other businesses to buy and sell vehicles.
Edited by Kanishk Singh