CarTrade Tech Group, one of India’s largest auto classifieds and auction platforms, on Wednesday announced a 27% year-on-year increase in its quarterly revenue, reaching Rs 192.94 crore for the quarter ended December 31, 2024 (Q3 FY25).
The company’s profit after tax soared to Rs 45.53 crore, sharply reversing from a net loss of Rs 23.55 crore in the same period last year, thanks in part to strong performance across its Consumer Group and Remarketing Business segments.
Growth in business segments
The Consumer Group posted a 38% jump in revenue and a 172% surge in profit after tax, while the Remarketing Business reported 28% revenue growth and a 178% boost in PAT.
Meanwhile, OLX India maintained robust momentum, with profits rising 80% over the previous quarter (Q2 FY25). For Q3 FY25, EBITDA nearly doubled from a year earlier to Rs 50.08 crore, reflecting an increase of 98%.
Adjusted EBITDA came in at Rs 70.17 crore, growing 62% year-on-year. The company’s profit before tax also registered triple-digit growth, rising from Rs 26.7 crore to Rs 53.39 crore in the span of one year.
CarTrade Tech recorded similar gains for the nine-month period (9M FY25), as consolidated revenue grew 32% year-on-year to Rs 521.53 crore.
EBITDA for this timeframe jumped to Rs 104.36 crore, marking a 100% increase, while adjusted EBITDA reached Rs 169.79 crore, up 47%. Profit before tax grew by 68% to Rs 114.69 crore, and net profit for the nine months stood at Rs 99.16 crore, swinging from a Rs 4.99 crore loss last year.
Leadership comments
“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 crores. Our profit growth outpaced revenue growth, reflecting the strong operating leverage in play,” said Vinay Sanghi, Chairman and Founder of CarTrade Tech.
“The progress made so far positions us strongly for sustained growth as we continue transforming the digital marketplace,” Sanghi added.
CarTrade’s market presence
Operationally, CarTrade Tech reported roughly 79 million average monthly unique visitors in Q3, more than 95% of which were organic. The group’s physical footprint now extends to over 450 locations across the country, encompassing Shriram Automall, CarWale abSure, Signature Dealers, and OLX India franchisees.
CarTrade Tech’s multi-channel platform includes prominent brands such as CarWale, CarTrade, OLX India, Shriram Automall, BikeWale, CarTrade Exchange, and Adroit Auto. Each of its consumer-facing portals, including CarWale, BikeWale, and OLX India, surpassed 150 million unique visitors yearly, with more than 90% of traffic acquired organically.
Based on annualized figures from Q3 FY25, the remarketing segment also reached 1.5 million listings for auction, reflecting the company’s strong ecosystem for buying, selling, and financing vehicles across all segments of the market.
Source: www.indianstartupnews.com
