Cartrade Tech Ltd

Tega Industries Ltd, Housing & Urban Development Corporation Ltd, IFCI Ltd and REC Ltd are among the other gainers in the BSE's 'A' group today, 08 May 2024.

Cartrade Tech Ltd surged 9.96% to Rs 933.5 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.42 lakh shares were traded on the counter so far as against the average daily volumes of 45900 shares in the past one month.

Tega Industries Ltd spiked 7.70% to Rs 1566.95. The stock was the second biggest gainer in 'A' group. On the BSE, 7702 shares were traded on the counter so far as against the average daily volumes of 6973 shares in the past one month.

Housing & Urban Development Corporation Ltd soared 7.66% to Rs 223.5. The stock was the third biggest gainer in 'A' group. On the BSE, 11.1 lakh shares were traded on the counter so far as against the average daily volumes of 19.82 lakh shares in the past one month.

IFCI Ltd exploded 7.43% to Rs 52.61. The stock was the fourth biggest gainer in 'A' group. On the BSE, 21.13 lakh shares were traded on the counter so far as against the average daily volumes of 36.89 lakh shares in the past one month.

REC Ltd rose 6.22% to Rs 538.3. The stock was the fifth biggest gainer in 'A' group. On the BSE, 13.62 lakh shares were traded on the counter so far as against the average daily volumes of 14.16 lakh shares in the past one month.

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Cartrade Tech has allotted 17,000 equity shares under ESOP. With this allotment, the paid up equity share capital has increased to 4,72,09,085 equity shares of face value of Rs. 10 each.

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Net profit of Cartrade Tech rose 50.53% to Rs 22.52 crore in the quarter ended March 2024 as against Rs 14.96 crore during the previous quarter ended March 2023. Sales rose 51.55% to Rs 145.28 crore in the quarter ended March 2024 as against Rs 95.86 crore during the previous quarter ended March 2023.

For the full year,net profit declined 57.94% to Rs 14.30 crore in the year ended March 2024 as against Rs 34.00 crore during the previous year ended March 2023. Sales rose 34.70% to Rs 489.95 crore in the year ended March 2024 as against Rs 363.74 crore during the previous year ended March 2023.

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Cartrade Tech will hold a meeting of the Board of Directors of the Company on 6 May 2024.

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Revenue from operations jumped 42.57% to Rs 138.58 crore in Q3 FY24 from Rs 97.20 crore recorded in the corresponding quarter previous year.

The company’s total income increased 31.07% to Rs 151.86 crore in the third quarter of FY24, as compared to Rs 115.86 crore recorded in Q3 FY23.

Profit before tax from continuing operations grew by 32.81% year on year to Rs 26.76 crore during the quarter.

Adjusted EBITDA in Q3 FY24 was at Rs 43.19 crore, up 18% as compared with Rs 36.60 crore recorded in Q3 FY23. Adjusted EBITDA margin contracted to 28% in Q3 FY24 as compared to 33% recorded in the corresponding quarter previous year.

The company said that its platforms received 70 million average monthly unique visitors in Q3 FY24, of which over 90% were organic. The number of annualised listings for auctions was 1.4 million based on Q3FY24. The volumes sold via auction were 50,925 for Q3 FY24, which is 2 lakhs on an annualised basis.

The company's revenue from consumer was at Rs 49.42 crore (up 17.66% YoY) while revenue from remarketing at Rs 46.00 crore (down 17.47% YoY) in Q3 FY24.

Meanwhile, the firm’s revenue form and Classifieds was at Rs 43.10 crore respectively, during the quarter.

On 9-Month basis, the company reported consolidated net loss of Rs 8.22 crore in 9M FY24 as compared with net profit of Rs 19.04 crore recorded in 9M FY23. Revenue from operations jumped 28.66% YoY to Rs 344.67 crore in 9M FY24.

Vinay Sanghi, chairman and founder, CarTrade Tech, said, We are thrilled to announce a remarkable quarter with a stellar 31% surge in total income and a robust 56% increase in profits. This exceptional performance is a testament to our unwavering commitment to execution and leveraging the strength of our renowned brands. In a strategic move, we successfully completed our recent business acquisition of OLX and capitalized on the vast opportunities presented by the profitable classifieds business.

We persistently invest in cutting-edge technology and product development to serve over 70 million monthly unique visitors across our platforms. We acknowledge the significant potential that emanates from this extensive user base, driving us to continually enhance our offerings

CarTrade Tech operates an automotive digital ecosystem which connects automobile customers, Automotive Manufacturers (OEMs), dealers, banks, insurance companies and other stakeholders. The platform operates under several brands: CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange and Adroit Auto. Through these platforms, the company enables new and used automobile customers, vehicle dealerships, OEMs and other businesses to buy and sell their vehicles in a simple and efficient manner.

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Net loss of Cartrade Tech reported to Rs 24.23 crore in the quarter ended December 2023 as against net profit of Rs 13.03 crore during the previous quarter ended December 2022. Sales rose 42.57% to Rs 138.59 crore in the quarter ended December 2023 as against Rs 97.21 crore during the previous quarter ended December 2022.

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Cartrade Tech will hold a meeting of the Board of Directors of the Company on 8 February 2024.

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Edelweiss Financial Services Ltd, Amber Enterprises India Ltd, Raymond Ltd and Rattanindia Power Ltd are among the other losers in the BSE's 'A' group today, 28 November 2023.

Cartrade Tech Ltd tumbled 4.58% to Rs 803 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 32695 shares were traded on the counter so far as against the average daily volumes of 31421 shares in the past one month.

Edelweiss Financial Services Ltd lost 4.51% to Rs 67.75. The stock was the second biggest loser in 'A' group.On the BSE, 11.43 lakh shares were traded on the counter so far as against the average daily volumes of 5.95 lakh shares in the past one month.

Amber Enterprises India Ltd crashed 3.69% to Rs 3146. The stock was the third biggest loser in 'A' group.On the BSE, 5441 shares were traded on the counter so far as against the average daily volumes of 9598 shares in the past one month.

Raymond Ltd plummeted 3.63% to Rs 1589.2. The stock was the fourth biggest loser in 'A' group.On the BSE, 80336 shares were traded on the counter so far as against the average daily volumes of 16922 shares in the past one month.

Rattanindia Power Ltd fell 3.60% to Rs 9.37. The stock was the fifth biggest loser in 'A' group.On the BSE, 178.98 lakh shares were traded on the counter so far as against the average daily volumes of 343.35 lakh shares in the past one month.

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Net revenue stood at Rs 147.94 crore in Q2 FY24, registering a growth of 44.35% from Rs 102.49 crore posted in Q2 FY23.

The company reported a total income of Rs 330.24 in the second quarter of FY24, steeply higher than Rs 102.49 crore in Q2 FY23.

Profit before tax grew by 12.73% year on year to Rs 15.50 crore during the quarter.

Adjusted EBITDA in Q2 FY24 was at Rs 31.91 crore, up 3.81% from Rs 30.74 crore in Q2 FY23. Adjusted EBITDA margin reduced to 22% in Q2 FY24 as compared to 30% recorded in the corresponding quarter previous year.

The company said that its platforms received 70 million average monthly unique visitors in Q2 FY24, of which over 90% were organic. The number of annualized listings for auctions conducted by Shriram Automall were 1.2 million based on Q2FY24. The volumes sold via auction were 1,05,263 for H1FY24, it added.

The company's revenue from consumer was at Rs 45.28 crore (up 22.11% YoY) while revenue from remarketing at Rs 51.91 crore (up 1.57% YoY) in Q2 FY24.

Meanwhile, the firm’s revenue form C2B Used Car Sale and Classifieds was at Rs 194.33 crore and 22.94 crore respectively, during the quarter.

Vinay Sanghi, chairman and founder, CarTrade Tech, said, “This has been an important quarter for CarTrade Tech, highlighted by the acquisition and ongoing integration of the OLX India business. Our strategy has involved restructuring the OLX operations to improve our unit economics and ensure that the classifieds business enhances and supports our consumer group business effectively.

This strategic move strengthens our leadership in the market, making us the number one auto portal, classifieds platform, and auto auction platform in the country. Our platforms together attract around 70 million unique visitors each month, of which 90% originate organically. This is a testament to the strength of our brands and our dedication to offer a superior customer experience.”

CarTrade Tech operates an automotive digital ecosystem which connects automobile customers, Automotive Manufacturers (OEMs), dealers, banks, insurance companies and other stakeholders. The platform operates under several brands: CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange and Adroit Auto. Through these platforms, the company enables new and used automobile customers, vehicle dealerships, OEMs and other businesses to buy and sell their vehicles in a simple and efficient manner.

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Vijaya Diagnostic Centre Ltd, Caplin Point Laboratories Ltd, IFB Industries Ltd and NESCO Ltd are among the other gainers in the BSE's 'A' group today, 10 November 2023.

Cartrade Tech Ltd surged 13.52% to Rs 827.25 at 11:48 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.39 lakh shares were traded on the counter so far as against the average daily volumes of 12598 shares in the past one month.

Vijaya Diagnostic Centre Ltd spiked 9.70% to Rs 649.05. The stock was the second biggest gainer in 'A' group. On the BSE, 66929 shares were traded on the counter so far as against the average daily volumes of 17248 shares in the past one month.

Caplin Point Laboratories Ltd soared 9.60% to Rs 1204.45. The stock was the third biggest gainer in 'A' group. On the BSE, 29773 shares were traded on the counter so far as against the average daily volumes of 8253 shares in the past one month.

IFB Industries Ltd rose 9.23% to Rs 934.7. The stock was the fourth biggest gainer in 'A' group. On the BSE, 21263 shares were traded on the counter so far as against the average daily volumes of 4695 shares in the past one month.

NESCO Ltd gained 6.79% to Rs 721.4. The stock was the fifth biggest gainer in 'A' group. On the BSE, 56612 shares were traded on the counter so far as against the average daily volumes of 3753 shares in the past one month.

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