CarTrade’s Shares Rally Over 8% Post Q2 Results

SUMMARY

However, the shares pared some of the gains to end the day at INR 1,043.00, up 6.14% from the previous close

For the day, as much as 8.4 Lakh shares of CarTrade traded hands. The company’s market capitalisation also stood at INR 4,933.40 Cr by the day’s end

For Q2 of FY25, CarTrade reported on a yearly basis a 509% jump in consolidated net profit and a 28.4% surge in its revenue from operations.

Shares of online auto auction platform CarTrade surged as much as 8.7% at INR 1,069 during the intraday trading today (October 28) following the announcement of its Q2 financials for FY25.

However, the shares pared some of the gains to end the day at INR 1,043.00, up 6.14% from the previous close.

For the day, as much as 8.4 Lakh shares of CarTrade traded hands. The company’s market capitalisation also stood at INR 4,933.40 Cr by the day’s end.

It is pertinent to note that the company has given handsome returns to its investors as its year-to-date YTO returns stand at 44.64%. This is a significant increase compared to the 10.81% YTD return on the BSE.

CarTrade made its public debut in August 2021. Its listing price at BSE was INR 1600 against the issue price of INR 1618.

Earlier this day, CarTrade reported a 509% year-on-year jump in its consolidated net profit to INR 30.72 Cr in Q2 of FY25 from INR 5.04 Cr in the year-ago period.

Following a similar trail, its revenue from operations rose 28.4% to INR 154.20 Cr in Q2 FY25 from INR 120 Cr in the corresponding quarter last year.

At the same time, CarTrade’s expenses zoom To INR 135.08 Cr in Q2 FY25, up 22.6% from INR 110.13 Cr in Q2 FY24.

Founded in 2009 by Vinay Sanghi and Rajan Mehra, CarTrade sells new and old vehicles. It counts brands like OLX India, CarWale, BikeWale, CarTradeExchange, Shriram Automall, Adroit Auto, and Autobiz under its umbrella and sells technology solutions for OEMs and dealers.

It competes with the likes of CarDekho, Droom, CARS24, among others, in the growing online automotive classifieds market in India.

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