SUMMARY
- CarTrade has seen a growth of 509% in its overall net profit in Q2 FY25, reaching Rs 30.72 crore.
- Its revenue from operations surged by 28.4% to Rs 154.20 crore in Q2 FY25.
- The company’s operational costs escalated to Rs 135.08 crore in Q2 FY25.
Online classifieds and auto auction platform CarTrade has seen a growth of 509% in its overall net profit in Q2 FY25, reaching Rs 30.72 crore from Rs 5.04 crore in Q2 FY24.
This represents a sequential rise of 34.1% from the previous quarter’s profit of Rs 22.89 crore.
CarTrade’s revenue from operations surged by 28.4% to Rs 154.20 crore in Q2 FY25 from Rs 120 crore in the same period last fiscal year while it grew 9.2% QoQ from Rs 141.17 crore in Q1 FY25.
CarTrade’s founder and chairman Vinay Sanghi shared, “We are pleased to report a remarkable financial performance for Q2 FY25, 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.”
The classified section contributed Rs 14.01 crore to CarTrade’s earnings, with the remarketing and ads sections bringing in Rs 12.03 crore and Rs 11.78 crore, respectively.
The company’s operational costs escalated to Rs 135.08 crore in the reported quarter from Rs 110.13 crore in Q2 FY24.
CarTrade spent Rs 69.92 crore for employee benefits in Q2 FY25 up from Rs 60.14 crore spent in the same period the year before.
The financial cost contributed Rs 2.93 crore and other expenses accounted for Rs 51.58 crore in CarTrade’s total expenses in the reported quarter.
The period also marked a 51% annual growth in CarTrade’s EBITDA, rising to Rs 32.7 crore from Rs 21.18 crore reported in the same quarter last fiscal.
CarTrade broadened its employee stock option plan (ESOP) in the quarter by distributing an extra 50,000 shares to its workforce in August.
