CarTrade Tech Q2 Results: Stock tanks 17%, most on record, after revenue growth slows to 10%

Shares of CarTrade Tech Ltd. tanked as much as 17% on Wednesday, October 28, in response to their September quarter results, which showcased slowing revenue growth and subdued profitability compared to the base quarter.

CarTrade Tech's revenue for the quarter slowed to 10.4% year-on-year. The company reported a topline of ₹213 crore, compared to ₹193 crore reported during the same quarter last year. This is significantly lower than the September quarter growth over the last two years. CarTrade's revenue had grown 27% in the September quarter of financial year 2025 and 29% in the same quarter of financial year 2026.

Net profit for the period remained flat, declining 0.8% from last year to ₹59.5 crore from ₹60 crore earlier.

Earnings Before Interest, Tax, Depreciation and Amortisation increased by 18.8% on a year-on-year basis to ₹76 crore. EBITDA margin expanded to 35.7%, an increase of 270 basis points from the 33% figure it reported last year.

The company attracted nearly 76 million average monthly unique visitors during the September quarter, with 96% of them being organic. The company is now present in over 500 physical locations.

The remarketing business also achieved an annualized run-rate of 1.6 million listings for auction. OLX India saw 26% revenue growth and 36% EBITDA growth during the quarter.

"We are excited about the possibilities that technology and AI are unlocking to build innovative products and deliver richer, more intuitive user experiences across our platforms. Our scale, organic reach and asset-light business model position us well to drive sustainable, profitable growth and further expand our margins," Vinay Sanghi, Chairman & Founder of CarTrade Tech was quoted as saying.

Shares of CarTrade Tech are trading 17.2% lower after the results announcement at ₹2,336.1. The stock is down nearly 30% from its 52-week high level of ₹3,290.

This story will be updated with more details.