Shares of Cartrade Tech skyrocketed nearly 9 percent after the company swung into profit in Q3. The company reported a net profit of Rs 43 crore in Q3, a sharp turnaround from a loss of Rs 24 crore that it recorded in the same quarter of the previous fiscal. What's more encouraging is that the company managed to rake in profit despite suffering from a one-time loss of Rs 46 crore in the December quarter.
At 11.48 am, shares of Cartrade Tech were trading at Rs 1,465.75 on the NSE. The surge in the stock was also backed by strong trading volumes. As much as 7 lakh shares changed hands on the exchanges so far, nearly double the one-month daily traded average of 4 lakh shares.
Revenue also grew 27 percent on year to a record high of Rs 193 crore, up from Rs 139 crore that it generated in the same quarter of the preceding fiscal. Impressing the Street further, all three business verticals of Cartrade Tech delivered their highest-ever revenue and profit.
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Growth was led by the company's consumer business which achieved 38 percent revenue growth, followed by the remarketing vertical which recorded 28 percent topline growth. OLX India too continued its robust performance, with profits surging 80 percent in Q3 FY25 compared to Q2FY25.
Meanwhile, reduced losses also materially lifted the company's operational performance as EBITDA margin swelled by a whopping 1,000 basis points to 28.4 percent, as compared to 18.4 percent in the year-ago period.
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