CarTrade Technologies Q2 Results: Profit skyrockets 6-fold to Rs 30 crore, revenue up 28%
CarTrade Technologies reported a six-fold increase in consolidated net profit at Rs 30.72 crore for the second quarter ended Sep 30, 2024.
The company had posted net profit of Rs 5.04 crore in the corresponding period of the last financial year.
Consolidated revenue from operations increased by 28% year-on-year to Rs 154.2 crore last quarter, compared to Rs 120.01 crore reported in the year-ago period. CarTrade Tech’s EBITDA (Earnings before interest, tax, depreciation and amortisation) last quarter grew by 54% to Rs 32.70 crore, up from Rs 21.18 crore in Q2FY24.
Vinay Sanghi, Chairman and Founder, CarTrade Tech, said, “We achieved the highest-ever quarterly revenue of Rs. 172 crores, marking a 27% growth year-over-year. This robust quarter-on-quarter performance has resulted in a 44% increase in profit before tax, underscoring the strength and leadership across all segments we operate in. Our results also reflect the operating leverage built into our model, driving a substantial increase in EBITDA by 54% and lifting our profit after tax to Rs. 31 crores this quarter."
For H1FY25, net profit rose over 189% year-on-year to Rs 53.62 crore, from Rs 18.55 crore in the first six months of last fiscal. For the first half of FY25, revenue surged over 43% to Rs 295.38 crore, compared to ₹206.08 crore in the same period of the previous fiscal year. EBITDA more than doubled, increasing over 103% to Rs 54.28 crore, compared to Rs 26.65 crore a year ago.
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