Internet & Catalogue Retail company CarTrade Tech announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Recorded Total Income at Rs 160.61 crore, resulting in growth of 38%. Adjusted EBITDA for the quarter is at Rs 49.11 crore, resulting in growth of 23%. Profit Before Tax for the quarter is at Rs 29.73 crore, resulting in growth of 30%. Profit After Tax for the quarter is at Rs 24.97 crore, resulting in growth of 43%. FY24 Financial Highlights: Recorded Total Income at Rs 555.23 crore, resulting in a YoY growth of 30%. Adjusted EBITDA for the period is at Rs 164.74 crore, resulting in a YoY growth of 32%. Profit Before Tax for the period is at Rs 98.04 crore, resulting in a YoY growth of 62%. Profit from continuing operations for the period stood at Rs 82.13 crore, resulting in a YoY growth of 103% Commenting on the company’s performance, Vinay Sanghi, Chairman and Founder, CarTrade Tech, said, "Financial year 2024, has been a pivotal year for our company. We are proud to announce our record-breaking quarterly results. We have reached our highest ever quarterly revenue of Rs 161 crore, representing a substantial growth of 38% and a quarterly profit after tax of Rs 25 crore, with a strong 43% growth YoY. The acquisition of OLX India during this period has not only strengthened our leadership position and also paved the way for substantial synergies among OLX India, CarWale, BikeWale, and Shriram Automall. Leveraging our leadership expertise, we are poised to capitalise on numerous opportunities to innovate and cater to our unique monthly visitor base of 70 million across various platforms. Looking ahead, our focus remains steadfast on driving sustainable and profitable growth in the forthcoming years." Result PDF
Conference Call with CarTrade Tech Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
Internet Catalogue & Retail company CarTrade Tech announced Q2FY24 & H1FY24 results: Q2FY24: Recorded a total income of Rs 330.24 crore in Q2FY24 and net revenue of Rs 147.94 crore in Q2FY24. Adjusted EBITDA for Q2FY24 is at Rs 31.91 crore. PBT for Q2FY24 stood at Rs 15.50 crore. PAT for Q2FY24 stood at Rs 12.97 crore and witnessed a YoY growth of 132% H1FY24: Recorded a total income of Rs 437.16 crore in H1FY24 and net revenue of Rs 254.86 crore in Q2FY24. Adjusted EBITDA for the period is at Rs 62.86 crore, resulting in a YoY growth of 30%. PBT for H1FY24 stood at Rs 31.27 crore. PAT for H1FY24 stood at Rs 26.48 crore and witnessed a YoY growth of 198%. The platforms received 70 million average monthly unique visitors for Q2FY24, of which 90%+ were organic. The number of annualized listings for auctions conducted by Shriram Automall was 1.2 million based on Q2FY24. The volumes sold via auction were 1,05,263 for H1FY24. The company is now present in 350+ Physical Locations, including Automalls, abSure, Signature & OLX outlets. Commenting on the company’s performance, Vinay Sanghi, Chairman and Founder, CarTrade Tech, said, “This has been an important quarter for CarTrade Tech, highlighted by the acquisition and ongoing integration of the OLX India business. Our strategy has involved restructuring the OLX operations to improve our unit economics and ensure that the classifieds business enhances and supports our consumer group business effectively. This strategic move strengthens our leadership in the market, making us the number one auto portal, classifieds platform, and auto auction platform in the country. Our platforms together attract around 70 million unique visitors each month, of which 90% originate organically. This is a testament to the strength of our brands and our dedication to offer a superior customer experience." Result PDF
Internet & Catalogue Retail company CarTrade Tech announced Q1FY24 results: Recorded quarterly revenue at Rs 106.91 crore in Q1FY24. Adjusted EBITDA for Q1FY24 is at Rs 30.95 crore resulting in a YoY growth of 74%. PBT for Q1FY24, stood at Rs 15.77 crore resulting in a YoY growth of 316%. PAT for Q1FY24, stood at Rs 13.51 crore and witnessed a YoY growth of 307%. CarTrade Tech received 34 million average monthly unique visitors for Q1 FY24, of which 85% were organic. The number of listings for auction was 2,50,103 for Q1FY24. The volumes sold via auction were 49,112 for Q1FY24. Commenting on the company’s performance, 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 Q1FY24, we achieved quarterly revenue of Rs 106.91 crore, an 18% YoY growth. Our PAT for Q1FY24 stood at Rs 13.51 crore representing more than a 300% YoY 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 our huge average monthly unique visitor count of 34 million, 85% of which originates organically.” Result PDF