MUMBAI, India, July 31, 2024 /PRNewswire/ -- CarTrade Tech Limited, one of India's largest online classifieds and auto auction platforms, announced its unaudited financial results for the quarter ended June 30^th, 2024. In Q1FY25, the company reported a Total income of Rs.156.36 crores and Profit after tax of Rs. 22.90 crores.

Key Highlights – Q1FY25:

• Recorded Total income at Rs. 156.36 crores in Q1FY25, resulting in growth of 46%.
• Adjusted EBITDA for the quarter is at Rs. 42.81 crores, resulting in growth of 38%.
• Profit after tax for the quarter is at Rs. 22.90 crores, resulting in growth of 69%.

Consolidated results for the quarter ended June 30, 2024

Operational Highlights

• Received average monthly unique visitors in Q1FY25, at 70 million, more than 95% of which are organic.
• The company is now present in 400+ Physical Locations, including Shriram Automall, CarWale abSure and Signature Dealers & OLX India Franchisee.

Commenting on the company's performance, Mr. Vinay Sanghi, Chairman and Founder, CarTrade Tech, said,

"I'm pleased to report a very good start to the year, with total income registering YoY growth of 46% and Profit After Tax growing by 69%. CarTrade Tech has a strong history of successful M&A integrations, including the recent integration of OLX India, which is already yielding positive results. Our brands CarWale, BikeWale, Shriram Automall, and OLX India remain leaders in their respective markets. We aim to leverage our brand leadership and technological expertise to explore innovative opportunities, catering to our unique monthly visitor base of 70 million across various platforms."

About CarTrade Tech Limited: (www.cartradetech.com) (NSE: CARTRADE) (BSE:543333)

CarTrade Tech Ltd. is a multi-channel auto platform, with its presence across all vehicle types and value-added services. The platform got ~70 million average monthly unique visitors in Q1 FY25, and based on Q1 FY25 annualized numbers has 1 Mn listings for auction. 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 in a simple and efficient manner.

For More Information, Please Contact:

COMPANY: CarTrade Tech Limited

CIN: L74900MH2000PLC126237

Email: investor@cartrade.com | T: +912267398888

INVESTOR RELATIONS ADVISOR:

Strategic Growth Advisors Pvt Ltd.

CIN: U74140MH2010PTC204285

Shikha Puri | Riddhish Bhayani

Email ID: shikha.puri@sgapl.net | riddhish.bhayani@sgapl.net 

Tel No.: +91 9819282743 | +91 9029319564

For media queries, contact:

Communicate India

Manish Kadam | +91 +91 93242 86677 | manish.kadam@communicateindia.com 

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