The company’s revenue for the quarter, increased by 16% for the quarter to ₹201.2 crore from ₹173 crore last year.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter grew by 45% on a year-on-year basis to ₹63 crore, while margins expanded by 6 percentage points to 31.3% from 25.1% in the year-ago period.
All business verticals delivered strong growth on a year-on-year basis. The consumer group revenue grew by 18% from last year, while its EBITDA grew 33%.
The remarketing business saw revenue growth of 13% during the quarter, while EBITDA for this business grew by 38%. OLX India outperformed the other businesses during the quarter, reporting 29% revenue growth from last year, along with an EBITDA growth of 76%.
During the quarter, CarTrade Tech engaged with nearly 80 million average monthly unique visitors, and continues to grow over the previous quarter. Organic traffic accounted for 95% of the traffic.
The company also now operates across more than 500 physical locations. Flagship digital platforms like CarWale, BikeWale and OLX India each are catering to more than 150 million annual unique visitors.
“This performance reflects the strength of our diversified business portfolio across Consumer Group, Remarketing and OLX India, supported by disciplined execution, operating leverage and a continued focus on profitable growth,” Vinay Sanghi, Chairman and Founder of CarTrade Tech said.
Shares of CarTrade Tech fell as much as 7.5% after the results announcement on Wednesday, currently trading 5.9% lower at ₹2,787.6. The stock is fluctuating between gains and losses on a year-to-date basis after today’s fall.
This is breaking news and will be updated with more details.
