CarTrade Tech Limited Reports Impressive Growth in Q1FY25 Financial Results

CarTrade Tech Limited, a leading online classifieds and auto auction platform in India, announced its financial results for Q1FY25. The company achieved a total income of Rs. 156.36 crores and a profit after tax of Rs. 22.90 crores, reflecting substantial YoY growth. They saw significant visitor engagement and continued market leadership.

CarTrade Tech Limited, one of India's top online classifieds and auto auction platforms, has revealed its unaudited financial results for the quarter ending June 30th, 2024. The company reported a total income of Rs. 156.36 crores and a profit after tax of Rs. 22.90 crores for Q1FY25, reflecting strong performance.

Financial highlights for the period include a 46% year-over-year growth in total income and a 69% growth in profit after tax. Adjusted EBITDA grew by 38%, reaching Rs. 42.81 crores. The company also reported that 70 million unique monthly visitors frequented their sites, with over 95% being organic traffic.

Mr. Vinay Sanghi, Chairman and Founder of CarTrade Tech, expressed satisfaction with the results, noting the company's successful M&A activities, including the integration of OLX India. He emphasized the firm's ongoing focus on leveraging brand leadership and technological expertise to drive further growth and innovative opportunities.

(With inputs from agencies.)