CarTrade Q4 Profit Jumps 85% YoY To INR 46 Cr

Auto-classifieds platform CarTrade’s consolidated profit after tax (PAT) zoomed 85% to INR 46.1 Cr in the March quarter of the fiscal year 2024-25 (Q4 FY25) from INR 24.9 Cr in the year-ago quarter on the back of growth in its top line and improvement in its EBITDA margin.

, growing a mere 1.3% from INR 45.5 Cr.

Revenue from operations climbed nearly 17% to INR 169.5 Cr during the quarter under review from INR 145.3 Cr in Q4 FY24, driven by robust growth in the core consumer group business. However, sequentially, the top line declined almost 4% from INR 176.2 Cr.

Founded in 2006 by Vinay Sanghi, CarTrade operates online marketplaces for new and used vehicles. Its platforms such as CarWale, BikeWale, Android Auto, Mobility Outlook, Shriram Automall, among others, facilitate buying, selling, marketing and financing of cars, two-wheelers and commercial vehicles.

In 2023, CarTrade diversified beyond its core automotive business by for INR 535.5 Cr.

Including other income of INR 19.9 Cr, the vehicle auction platform reported a revenue of INR 189.5 Cr in the fourth quarter of FY25.

EBITDA surged 67% to INR 47.1 Cr in Q4 FY25 from INR 27.3 Cr in the same quarter last year. As a result, the company’s EBITDA margin improved by 8 percentage points to 27% in the reported quarter from 19% in Q4 FY24.

Monthly average unique visitors (MAUs) across its online marketplace platforms – Carwale, Bikewale, CarTrade and OLX – stood at 74 Mn for Q4 FY25.

In its investor presentation today, CarTrade said it reported its highest-ever profit and revenue in FY25. Its profit skyrocketed 627% year-on-year (YoY) to INR 145.3 Cr in FY25, while operating revenue jumped 31% YoY to INR 641.1 Cr.

“FY25 has been a landmark year for CarTrade Tech — the highest revenue, the highest profit, and a clear demonstration of the power of our multi-platform strategy […] surpassing 150 Mn users across CarWale, BikeWale, and OLX India reflects the scale and strength of our ecosystem. The best is yet to come …,” said chairman and founder Sanghi.

Revenue Breakdown

CarTrade primarily earns revenue through the sale of new and used vehicles across its platforms. It generates income from listing fees, transaction commission and by providing tech-enabled services to dealers & vehicle original equipment manufacturers (OEMs), such as dealer management and auto finance solutions.

Revenue from the core consumer group business, which includes pre-owned car sales platform Carwale and online bike marketplace BikeWale, climbed 30% to INR 63.6 Cr in Q4 FY25 from INR 49.1 Cr in the year-ago quarter. However, revenue from this segment declined over 6% from 68 Cr on a QoQ basis.

CarTrade raked in a revenue of INR 58.7 Cr from its remarketing business in the March quarter of FY25, up 11% from INR 52.8 Cr in the year-ago period. Sequentially, revenue from this segment was flat.

Meanwhile, its multi-product classifieds platform OLX India reported a revenue of INR 47.7 Cr in the reported quarter, up 10% from INR 43.4 Cr in Q4 FY24. On a QoQ basis, its revenue dipped over 4% from INR 49.8 Cr.

Zooming Into Expenses

CarTrade managed to control the rise in expenditure in Q4 FY25, which bolstered its bottom line. Overall, expenses grew 5% to INR 123.3 Cr during the quarter under review from INR 118 Cr in the year-ago quarter. Sequentially, it went down 2% from INR 126.1 Cr

Employee Cost: CarTrade spent INR 70.8 Cr towards employee remuneration and other benefits in Q4 FY25, up 6% from INR 66.8 Cr in Q4 FY24. However, employee cost reduced by 3% QoQ from INR 73.1 Cr

Other Expenses: The spending under this head rose nearly 3% to INR 52.6 Cr in the fourth quarter of the fiscal year gone by from INR 51.1 Cr in Q4 FY24. Sequentially, it declined almost 2% from INR 53.1 Cr.

Following CarTrade’s Q4 FY25 earnings announcement, the shares of the company ended Wednesday’s trading session 2.56% lower at INR 1,674.10 apiece on the BSE.

 

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