The shares of this small-cap stock gained 18 percent to Rs 860 on Friday after the company announced strong Q2 results.
According to the company’s exchange filing, the net revenue of the company rose 258 percent year on year from Rs 87.8 crores in Q2FY23 to Rs 314.3 crores in Q2FY24. On a quarter-on-quarter basis, their revenue rose 265 percent from Rs 86 crore in Q1FY24 to current levels.
Also, the net profit rose 134 percent year on year from Rs 5.7 crores Q2FY23 to Rs 13.3 crores Q2FY24, On a sequential basis quarter on quarter their net profit rose by 4 percent from Rs 12.8 crores Q1FY24 to current levels.
CarTrade Tech Limited is a small-cap company with a Market capitalization of Rs 3,960 crores. It also has a return on equity (ROE) of 2.26 percent and a return on capital employed (ROCE) of 3.44 percent.
Also, the company is debt-free and delivered a The company transition their net profit margin from the negative margin of 38.8 percent in FY21-22 to a positive margin of 11.2 percent in FY22-23.
The company is professionally managed in which the promoter holds a zero percent stake, foreign institutional investors hold 70.14 percent, domestic institutional investors hold 4.53, and the remaining lies with the public.
The share price of CarTrade Tech Limited has risen by 95.98 percent in the last six months and 77.65 percent in the year to date.
CarTrade Tech Limited is a leading Indian e-commerce company that provides a platform for buying and selling new and used vehicles. The company also owns other vehicle trading platforms such as CarWale, BikeWale, and CarTradeExchange, the omnichannel vehicle auction company.
Written by Sriram KV
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