The shares of this smallcap stock that operates a multi-channel auto platform jumped 13 percent on Wednesday after the announcement of its Q3 results with a 27.2 percent year-on-year rise in revenue from operations.
Price Action
With a market capitalization of Rs 6,794.57 crore, CarTrade Tech Ltd rose 13 percent in Wednesday’s trading session and made a high of Rs 1,624.00 per share compared to its previous closing price of Rs 1,367.90 per share. The stock retraced from its day’s high and was trading at Rs 1,545.00 which is 13 percent higher than the previous closing price.
What Happened
CarTrade Tech Ltd stock surged after the company reported its Q3FY24-25 results. Its revenue from operations grew by 27.2 percent year on year from Rs 138.5 crore to Rs 176.2 crore in Q3FY25 and it grew by 14.2 percent quarter on quarter from Rs 154.2 crore in Q2FY25.
The company’s net profit stood at Rs 45.5 crore in Q3FY25 compared to a loss of Rs 23.5 crore in Q3FY24. On a quarter-on-quarter basis, the net profit rose by 48.2 percent from Rs. 30.7 crores.
Further the company’s EPS substantially increased by 97 percent year on year from Rs 4.54 to Rs 8.95. On a quarter-on-quarter basis, it went up by 51.7 percent from Rs 5.90.
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Segment Revenue
The consumer segment accounted for 38.5 percent of the total income, while the remarketing segment and classifieds contributed 33.2 percent and 28.3 percent, respectively.
Company Overview
CarTrade Tech Ltd is the leading auto portal in India operating under various brands such as CarWale, CarTrade, BikeWale, Shriram Automall, and OLX India. It connects new and used automobile customers, dealers, OEMs, and other businesses for seamless vehicle transactions. The company recently acquired OLX India, which has maintained its growth momentum, achieving an 80 percent increase in profits from Q2 to Q3 FY25.
CarTrade Tech operates over 450 physical locations, including Automall, abSure, and OLX India outlets. It has approximately 79 million Monthly Average Unique Visitors (MAU). Additionally, the company is debt-free and maintains a strong cash balance of around Rs 885 crore.
Written by Shwetha Sairam
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