CarTrade Allots 69K Equity Shares Under ESOP Plans

CarTrade Allots 69K Equity Shares Under ESOP Plans

SUMMARY

Auto auction platform CarTrade has allotted 69,000 equity shares under its existing ESOP Plans

Following this allotment, the total issued shares stand at 47,43,60,850

With the fresh allotment, the paid-up share capital of the company has increased from INR 47,36,70,850 to INR 47,43,60,850

Auto auction platform CarTrade has allotted 69,000 equity shares under its existing ESOP Plans.

The company said in a regulatory filing today (January 29) that its Board of Directors has approved the allotment of 69,000 equity shares of face value of INR 10 (Rupees Ten Only) each to eligible Employee pursuant to Exercise of vested options under Employee Stock Option Plan 2010 (“ESOP 2010”), Employee Stock Option Plan 2015 (“ESOP 2015”) and Employee Stock Option Plan 2021 (I) [“ESOP 2021 (I)”].

With the fresh allotment, the paid-up share capital of the company has increased from INR 47,36,70,850 to INR 47,43,60,850.

Following this allotment, the total issued shares stand at 47,43,60,850.

Founded in 2009 by Vinay Sanghi and Rajan Mehra, CarTrade facilitates the sale of both new and used vehicles. It operates brands like OLX India, CarWale, BikeWale, CarTradeExchange, Shriram Automall, Adroit Auto, and Autobiz. It also provides technology solutions to OEMs and dealers. 

Shares of CarTrade opened at INR 1368.80 apiece on BSE on Wednesday (January 29). As per the stock’s opening price today, the newly-allotted shares are worth INR 9.44 Cr.

CarTrade posted a consolidated net profit of INR 45.53 Cr in the third quarter of the financial year 2024-25 (Q3 FY25) against a loss of INR 23.55 Cr in the year-ago quarter.

On a quarter-on-quarter basis, net profit zoomed 48% from INR 30.72 Cr.

EBITDA jumped 98% to INR 50.07 Cr in Q3 FY25 from INR 25.35 Cr in the same quarter last year. Sequentially, it spiked 53% from INR 32.70 Cr. As a result, EBITDA margin improved 10 percentage points to 28% during the quarter under review from 18% in Q3 FY24.

Operating revenue surged 27% to INR 176.21 Cr during the quarter under review from INR 138.58 Cr in Q3 FY24. Sequentially, it rose 14.3% from 154.20 Cr.

Shares of CarTrade skyrocketed 18.65% to INR 1,624.20 apiece during the intraday trading on the BSE today (January 29).

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