Shares of CarTrade Tech Ltd surges 7% on October 28 after the company announced a massive 509% jump in consolidated net profit for the September quarter.
CarTrade Tech, which claims to be one of India’s largest online classifieds and auto auction platforms, reported 509% jump in Q2FY25 at Rs 31 crore as against Rs 5.04 crore in the year-ago period.
In a regulatory filing, the company said it recorded its highest ever revenue of Rs 172.23 crore in Q2FY25, resulting in growth of 27%.
"EBITDA for the quarter is at Rs 32.7 crore, resulting in growth of 54%. Adjusted EBITDA for the quarter is at Rs 56.81 crore, resulting in growth of 37%," said the company.
At 1 pm on October 28, the company's shares on BSE were trading 7% higher at Rs 1,060 apiece.
Vinay Sanghi, Chairman and Founder, CarTrade Tech, said: “We are pleased to report a remarkable financial performance for Q2FY25, achieving the highest-ever quarterly revenue of Rs 172 crore, marking a 27% growth year-over-year. This robust quarter-on-quarter performance has resulted in a 44% increase in profit before tax, underscoring the strength and leadership across all segments we operate in. Our results also reflect the operating leverage built into our model, driving a substantial increase in EBITDA by 54% and lifting our profit after tax to Rs 31 crore this quarter."
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