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Shares of CarTrade Technologies Ltd. fell up to 9% on Wednesday, January 28, in response to its December quarter results that were reported during the trading session.
Net profit for the period increased by 31.5% from last year to ₹56 crore from ₹42.7 crore during the same quarter last year.
Revenue for the quarter stood at ₹209.7 crore, a growth of 19% compared to last year's figure of ₹176.2 crore. The company's topline had grown by 25% during the September quarter.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) at the end of the December quarter stood at ₹78 crore, rising 56% from ₹50 crore it reported during the same quarter last year.
EBITDA margin for the quarter expanded by nearly nine percentage points to 37.2% from 28.4% from the same quarter last year. Margins have expanded on a quarter-on-quarter basis.
The company said in its post-earnings release that it engaged in nearly 85 million average monthly unique visitors, with organic traffic accounting for 95% of the total traffic. This is the same number that the management had shared at the end of the September quarter as well.
The remarketing business delivered an annualized run-rate of 1.9 million auction listings, cementing its leadership in the vehicle remarketing space.
Shares of CarTrade Tech are looking to recover from the lows of the day, currently trading 6.9% lower at ₹2,366. From just over ₹300 in March 2023, shares of CarTrade Tech surged to as high as ₹3,290 last year. The stock is down nearly 25% from those levels.
Net profit for the period increased by 31.5% from last year to ₹56 crore from ₹42.7 crore during the same quarter last year.
Revenue for the quarter stood at ₹209.7 crore, a growth of 19% compared to last year's figure of ₹176.2 crore. The company's topline had grown by 25% during the September quarter.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) at the end of the December quarter stood at ₹78 crore, rising 56% from ₹50 crore it reported during the same quarter last year.
EBITDA margin for the quarter expanded by nearly nine percentage points to 37.2% from 28.4% from the same quarter last year. Margins have expanded on a quarter-on-quarter basis.
The company said in its post-earnings release that it engaged in nearly 85 million average monthly unique visitors, with organic traffic accounting for 95% of the total traffic. This is the same number that the management had shared at the end of the September quarter as well.
The remarketing business delivered an annualized run-rate of 1.9 million auction listings, cementing its leadership in the vehicle remarketing space.
Shares of CarTrade Tech are looking to recover from the lows of the day, currently trading 6.9% lower at ₹2,366. From just over ₹300 in March 2023, shares of CarTrade Tech surged to as high as ₹3,290 last year. The stock is down nearly 25% from those levels.
