CarTrade Shares Skyrocket 19% On Robust Q3 Earnings

CarTrade Shares Skyrocket 19% On Robust Q3 Earnings

SUMMARY

Shares of CarTrade skyrocketed 18.65% to INR 1,624.20 apiece during the intraday trading on the BSE

The rally in the stock came after the company returned to the black in the December quarter with a net profit of INR 45.53 Cr

Operating revenue zoomed 27% YoY to INR 176.21 Cr during the quarter under review

Shares of CarTrade skyrocketed 18.65% to INR 1,624.20 apiece during the intraday trading on the BSE today (January 29) after the online classifieds and auto auction company swung into profit in the third quarter of the financial year 2024-25 (Q3 FY25).

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.

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. 

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.

Total expenses rose 11% to INR 126.13 Cr in Q3 FY25 from INR 113.23 Cr in the year-ago quarter.

In its Q3 FY25 presentation to investors, CarTrade said that all three of its business verticals delivered the highest-ever revenue and profits. While the operating revenue of the consumer business grew 38% YoY to INR 67.99 Cr, the remarketing vertical’s operating revenue jumped 27% YoY to INR 58.57 Cr in the reported quarter.

It is pertinent to note that CarTrade shares sank after its initial public offering (IPO) in 2021. However, the stock has rebounded on the back of the company’s recent earnings results.

Over the past 6 months, CarTrade’s stock has rallied over 54%, outperforming several new-age tech stocks. 

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, Spinny, and CARS24 in India’s rapidly growing online automotive classifieds market.

In an exchange filing, along with its Q3 FY25 earnings, the company said that it has allotted 69K equity shares to eligible staffers under the employee stock option plan (ESOP) 2010, ESOP 2015, and ESOP 2021.

As per the stock’s opening price today, the newly allotted equity shares have a cumulative worth of INR 9.43 Cr.

 

 

 

 

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CarTrade Shares Skyrocket 19% On Robust Q3 Earnings-Inc42 Media
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