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Internet & Catalogue Retail company CarTrade Tech announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Recorded Total Income at Rs 160.61 crore, resulting in growth of 38%.
- Adjusted EBITDA for the quarter is at Rs 49.11 crore, resulting in growth of 23%.
- Profit Before Tax for the quarter is at Rs 29.73 crore, resulting in growth of 30%.
- Profit After Tax for the quarter is at Rs 24.97 crore, resulting in growth of 43%.
FY24 Financial Highlights:
- Recorded Total Income at Rs 555.23 crore, resulting in a YoY growth of 30%.
- Adjusted EBITDA for the period is at Rs 164.74 crore, resulting in a YoY growth of 32%.
- Profit Before Tax for the period is at Rs 98.04 crore, resulting in a YoY growth of 62%.
- Profit from continuing operations for the period stood at Rs 82.13 crore, resulting in a YoY growth of 103%
Commenting on the company’s performance, Vinay Sanghi, Chairman and Founder, CarTrade Tech, said, "Financial year 2024, has been a pivotal year for our company. We are proud to announce our record-breaking quarterly results. We have reached our highest ever quarterly revenue of Rs 161 crore, representing a substantial growth of 38% and a quarterly profit after tax of Rs 25 crore, with a strong 43% growth YoY.
The acquisition of OLX India during this period has not only strengthened our leadership position and also paved the way for substantial synergies among OLX India, CarWale, BikeWale, and Shriram Automall. Leveraging our leadership expertise, we are poised to capitalise on numerous opportunities to innovate and cater to our unique monthly visitor base of 70 million across various platforms.
Looking ahead, our focus remains steadfast on driving sustainable and profitable growth in the forthcoming years."
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