- 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.”