CarTrade Tech Group, one of India’s largest online classifieds and auto auction platforms, has announced its unaudited financial results for the quarter ending December 31, 2024, delivering a strong performance marked by substantial revenue growth, improved profitability, and record financial achievements.
The company recorded a 27% year-on-year revenue growth, reaching INR 193 crore in Q3FY25. EBITDA witnessed a 98% growth, while profit after tax (PAT) surged to INR 46 crore, a significant turnaround from the previous year. The Consumer Group led the company’s strong performance with a 38% revenue growth and a 172% PAT increase. The Remarketing Business also showed robust results, registering 28% revenue growth and 178% PAT growth during the quarter. Additionally, OLX India continued its strong trajectory, with profits soaring by 80% compared to the previous quarter (Q2FY25).
Key Financial Highlights (Q3FY25 – Consolidated):
- Revenue: INR 192.94 crore, marking a 27% growth
- EBITDA: INR 50.08 crore, up 98%
- Adjusted EBITDA: INR 70.17 crore, up 62%
- Profit before tax (PBT): INR 53.39 crore, up 100%
- Profit after tax (PAT): INR 45.53 crore, reversing from a INR 23.55 crore loss in Q3FY24
Key Financial Highlights (9MFY25 – Consolidated):
- Revenue: INR 521.53 crore, up 32%
- EBITDA: INR 104.36 crore, up 100%
- Adjusted EBITDA: INR 169.79 crore, up 47%
- Profit before tax (PBT): INR 114.69 crore, up 68%
- Profit after tax (PAT): INR 99.16 crore, a sharp turnaround from a INR 4.99 crore loss
Operational Growth and Expansion
CarTrade Tech’s digital platform continues to attract a strong user base, with an average of 79 million unique visitors per month in Q3FY25, 95% of which are organic traffic. The company has also expanded its physical presence to over 450 locations, including Shriram Automall, CarWale abSure, Signature Dealers, and OLX India franchisees.
Vinay Sanghi, Chairman and Founder of CarTrade Tech, said, “We are delighted to announce strong growth this quarter. All three of our business verticals have delivered their highest-ever revenue and profits, further cementing our leadership in the market. Revenue for 9MFY25 grew by 32%, while EBITDA surged by 100%, leading to a PAT of INR 99 crore. Our profit growth outpaced revenue growth, reflecting the strong operating leverage at play.'
He further highlighted the company’s focus on product and technology, adding, 'In Q3 alone, profits rose by 48% to INR 46 crore as compared to Q2. This underscores the tremendous potential ahead. As a product and technology-led organisation, we continue to build on our scalable digital platform, enhancing customer experience and expanding our market share. The progress made so far positions us strongly for sustained growth as we continue transforming the digital marketplace.'
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