Share price of this small-cap stock and one of India’s largest online classifieds and auto auction platforms, moved up by 18.02 percent on BSE to hit an intraday high at Rs. 855 on the trading session of Monday, after reporting a rise in the net profit by 43 percent YoY and revenue from operations by 51.6 percent YoY.
With a market capitalisation of Rs. 3,802.13 Crore, the share price of CarTrade Tech Limited closed in the green at Rs. 810.9, up by 8.14 percent.
The fluctuations in the share prices were observed after CarTrade Tech Limited announced the financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges on Monday.
From Rs. 138.6 crore in Q3 FY23-24 to Rs. 145.3 crore in Q4 FY23-24, revenue from operations expanded by 5 percent QoQ and by 51.6 percent YoY from Rs. 95.8 crore in Q4 FY22-23 to Rs. 145.3 crore in Q4 FY23-24.
The consolidated net profit of the company improved by 43 percent YoY to Rs. 25 crore in Q4 FY23-24 from Rs. 17.5 crore in Q4 FY22-23, while on a quarter-on-quarter basis, the PAT grew from a loss of Rs. 23.55 crore in Q3 FY23-24 to Rs. 25 crore in Q4 FY23-24.
CarTrade received the highest-ever average monthly unique visitors for Q4FY24, at 70 million, of which over 92 percent was organic. The company is now present in 350+ Physical Locations, including Shriram Automall, CarWale abSure and Signature Dealers & OLX India Franchisee.
With the acquisition of OLX India during this period, the company has strengthened its leadership position and also paved the way for substantial synergies among OLX India, CarWale, BikeWale, and Shriram Automall.
As of March 2024, FIIs hold 69.71 percent of the shares, whereas DIIs hold 4.96 percent of the shares in the company, aggregating to 74.67 percent of the institutional holdings.
The stock has delivered positive returns of nearly 90.8 percent in the last one year and around 15.2 percent in the last six months. So far in 2024, the company has given about 12.4 percent of positive returns.
CarTrade Tech Ltd. is a multi-channel auto platform with a presence across all vehicle types and value-added services.
The platform operates under several brands: CarWale, CarTrade, Olx India, Shriram Automall, BikeWale, CarTrade Exchange and Adroit Auto. These platforms enable new and used automobile customers, vehicle dealerships, vehicle OEMs, and other businesses to buy and sell vehicles.
Written by Shivani Singh
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