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Automobile

CarTrade Tech records 18% Revenue growth and more than 300% growth in PAT Y-O-Y


MUMBAI, India, Aug. 10, 2023 /PRNewswire/ — CarTrade Tech Limited, one of India’s largest online auto platforms, announced its unaudited financial results for the quarter ended June 30th, 2023, today. The Company reported a revenue of Rs. 106.91 crores for the quarter, an Adjusted EBITDA (adjusted for ESOP) for the quarter of Rs. 30.95 crores and PAT for the quarter of Rs.13.51 crores.

CarTrade_Tech_Logo

Key Highlights:

  • Recorded quarterly revenue at Rs. 106.91 crores in Q1FY24.
  • Adjusted EBITDA for the quarter is at Rs. 30.95 crores resulting in a Y-O-Y growth of 74%.
  • PBT for the quarter, stood at Rs. 15.77 crores resulting in a Y-O-Y growth of 316%.
  • PAT for the quarter, stood at Rs. 13.51 crores and witnessed a Y-O-Y growth of 307%.

Consolidated results for the quarter ended June 30, 2023

(Rs. In Crores)

Quarter ended

June 30, 2023

June 30, 2022

Y-o-Y   

Total Income

106.91

92.77


(Less) Purchase of Stock-in-trade 

0.00

2.51


Net Total Income

106.91

90.27

18 %

Adjusted EBITDA

30.95

17.74

74 %

Adjusted EBITDA %

29 %

19 %


PBT

15.77

3.79

316 %

PAT

13.51

3.32

307 %

 

Operational Highlights

  • CarTrade Tech received 34 million average monthly unique visitors for Q1 FY24, of which 85% were organic.
  • The number of listings for auction were 2,50,103 for Q1 FY24.
  • The volumes sold via auction were 49,112 for Q1 FY24.

Commenting on the company’s performance, Mr. Vinay Sanghi, Chairman and Founder, CarTrade Tech, said:

“I am happy to report that we are amongst a few internet companies that continue to grow and are profitable. In Q1 FY24, we achieved quarterly revenue of Rs 106.91 crores which is an 18% Y-O-Y growth. Our PAT for Q1 FY24 stood at Rs 13.51 crores representing more than a 300 % Y-O-Y growth and continues to outpace our revenue growth, as we have an asset-light and scalable business model. Our robust brands manifest their strength by being leaders in Google Trends and in our huge average monthly unique visitor count of 34 million, 85% of which originates organically.”

About CarTrade Tech Limited: (www.cartradetech.com; (NSE: CARTRADE) (BSE: 543333))

CarTrade Tech Ltd. is a multi-channel auto platform with its presence across all vehicle types and value-added services. The platform got 34 million average monthly unique visitors in Q1 FY24 and based on Q1 FY24 annualized numbers has 1 mn listings for auction. The platform operates under several brands: CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto, and AutoBiz. These platforms enable new and used automobile customers, vehicle dealerships, vehicle OEMs, and other businesses to buy and sell vehicles in a simple and efficient manner.

For more information, please contact:

COMPANY:

CIN: L74900MH2000PLC126237,

Email: [email protected] 

T: +912267398888

For media queries, contact:

Communicate India: 

Manish Kadam |+91-93242 86677 | [email protected]

Radhika Jayakumar|+91-8450963381 | [email protected]    

Logo: https://mma.prnewswire.com/media/1810735/3467884/CarTrade_Tech_Logo.jpg

 

Cision View original content:https://www.prnewswire.com/in/news-releases/cartrade-tech-records-18-revenue-growth-and-more-than-300-growth-in-pat-y-o-y-301897726.html





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