CarTrade Tech announced Q4FY22 results: Highest ever quarterly revenue of Rs. 106 crores in Q4 FY22, and closed FY22 at a revenue of Rs. 359 crores Increase in revenue by 28% YoY as compared to FY21 Adjusted EBITDA for the quarter is at Rs. 32 crores and for the year is Rs 97 crores resulting in a YoY growth of 25% Adjusted PAT for the year ended March 31, 2022 is Rs. 64 crores Commenting on the performance of the company Mr. Vinay Sanghi, Chairman and Founder, CarTrade Tech said, “I am happy to announce our highest ever revenue in Q4 FY22 of Rs. 106 crores. We closed FY22 at a total revenue of Rs. 359 crores, resulting in a YoY growth of 28% and our adjusted EBITDA has grown by 25%. We will continue to innovate and further digitalize our offerings to provide a seamless and hassle-free buying and selling experience to our consumers. CarWale abSure will continue to lead the revolution in the used car segment to make the customer journey memorable and satisfying. Currently we have 47 CarWale abSure outlets and plan to have over 120 outlets by March 2023.” Result PDF
Internet & Catalogue Retail company CarTrade Tech declares Q3FY22 result: Highest ever quarterly revenue at Rs 102 crores in Q3-FY22 Revenue for nine month period ending Dec 21 up by 33% over Dec20. Adjusted EBITDA for the quarter is at Rs 32 crores, with an Adjusted EBITDA margin % of 32% Adjusted EBITDA for nine month period ending Dec 21 up by 30% over Dec20 Total Revenue for the nine month period ended December 31, 2021 stood at Rs. 253.07 crores, showing a growth of 33%, as compared to Rs. 189.60 crores in the same period last year. Adjusted Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in nine month period ended December 31, 2021 stood at Rs. 65.29 crores, showing a growth of 30% as compared to Rs 50.17 crores in the corresponding period. Adjusted EBITDA margin % stood at 26% for nine month period ended December 31, 2021. Total Revenue for Q3 FY22 stood at Rs. 102 crores, as compared to Rs. 86 crores in the same period last year. Adjusted Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q3 FY22 stood at Rs. 32 crores and adjusted EBITDA margin % for Q3 FY22 was 32%. An exceptional and non-recurring, non-cash adjustment of Rs. 140 crores for Employee stock options granted in FY21 has been accounted for, resulting in a Net loss after tax for nine month period ended December 31, 2021 of Rs. 100 crores (Net loss before tax of Rs. 97 crores) as compared to a net profit after tax of Rs. 87 crores (Net profit before tax of Rs 27 crores) for nine month period ended December 31, 2020. Commenting on the performance of the company Mr. Vinay Sanghi, Founder and Chairman - CarTrade Tech said, “I am happy to inform our shareholders that our Q3FY22 total revenue stood at Rs 102 crores which is our highest ever for a quarter. Our revenue has grown by 33% compared to the nine month period ended December 31, 2020 and in terms of adjusted EBITDA we have grown by 30%. We had our highest ever auction listing in this quarter at 326,319, which helped cross the 1.3 million auction listing mark based on the Q3FY22 annualised numbers and we got 31 million average monthly unique visitors this quarter. We are continuing to digitalize the buying and selling journey for the consumer and our CarWale abSure offering is a step in this direction. We have 22 CarWale abSure outlets across 18 cities and we plan to have 200 outlets across the country in the next 2 years.” Result PDF
Conference Call with CarTrade Tech Management and Analysts on Q2FY22 Performance and Outlook. Listen to the full earnings transcript.
Key Highlights: Adjusted EBITDA for H1 up by 104% over H1FY21 Revenue for H1 up by 46% over H1FY21 Launched CarWale abSure in 9 cities in Q2-FY22 Total Revenue for the half year ended September 30, 2021 stood at Rs. 150.75 crores, showing a growth of 46%, as compared to Rs. 103.26 crores in the same period last year. Adjusted Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in H1FY22 stood at Rs. 33 crores, showing a growth of 104% as compared to Rs 16.18 crores in the corresponding period. Adjusted EBITDA margin stood at 22% in H1FY22 as compared to 16% in H1FY21. Total Revenue for Q2 FY22 stood at Rs. 88 crores, as compared to Rs. 63 crores in the same period last year. Adjusted Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q2 FY22 stood at Rs. 24 crores, as compared to Rs. 18 crores during H1FY21. Adjusted EBITDA margin for Q2 FY22 was 28% An exceptional and non-recurring, non-cash adjustment of Rs. 93 crores for Employee stock options granted in FY21 has been accounted for, resulting in a Net loss after tax for H1 FY22 of Rs. 81 crores (Net loss before tax of Rs. 75 crores) for H1 - FY22 as compared to a Net profit after tax of Rs. 64 crores (Net profit before tax of Rs 0.75 crores) for H1 - FY21 Commenting on the performance of the company Mr. Vinay Sanghi, Founder and Chairman, “I am delighted to report that to our shareholders that we have grown by over 46% compared to H1-FY21 in revenues and 104% in terms of adjusted EBITDA. Two milestones were particularly noteworthy; first where we witnessed our highest ever average monthly unique visitors at 34 million this quarter; out of which over 87% was organic. The second, was the highest ever number of vehicles listed for auction in this quarter at 300,671, which helped breach the 1.2 mn vehicle mark, based on the Q2FY22 annualised numbers. These two developments are a clear testimony of our consumers unwavering trust in our brands. We are digitizing the buying and selling journey for the consumer and the launch of CarWale abSure is a step in this direction.” Result PDF