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Shares of CarTrade soared 12.6% to hit an all-time high of INR 1,736 apiece on the BSE during the intraday trading today (January 30)
As of 10:17 AM, the company’s stock was trading slightly above 10% at INR 1,696.80 on the BSE, compared to its previous close of INR 1,541.65
CarTrade reported a consolidated net profit of INR 45.53 Cr in the December quarter of FY25 against a loss of INR 23.55 Cr, a year ago
Shares of CarTrade soared 12.6% to hit an all-time high of INR 1,736 apiece on the BSE during the intraday trading today (January 30) after the auto-classifieds platform returned to the black in the third quarter of the fiscal year 2024-25 (Q3 FY25).
As of 10:17 AM, the company’s stock was trading slightly above 10% at INR 1,696.80 on the BSE, compared to its previous close of INR 1,541.65.
On that note, market capitalization of the online classifieds and auto auction platform stands at INR 8,090.53 Cr ($934.5 Mn).
CarTrade reported a consolidated net profit of INR 45.53 Cr in the December quarter of FY25 against a loss of INR 23.55 Cr in the year-ago quarter.
Meanwhile, its 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.
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.
CarTrade competes with major players like CarDekho, Droom, and CARS24 in India’s rapidly growing online automotive classifieds market.
Following the strong quarterly financial performance, CarTrade’s stock skyrocketed 18.65% to INR 1,624.20 apiece, a day ago.
Furthermore, the company also allotted 69,000 equity shares under its existing ESOP Plans, yesterday. 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.