Online classified vehicle trading platform CarTrade’s Q1 FY25 reported its net profit to have jumped 69.4% YoY to Rs 22.89 crore from Rs 13.51 crore in the quarter ended June 2023.
Revenue from operations also surged by 64% from Rs 86.06 crore to Rs 141.17 crore in the same period. Its EBITDA went up by 295% from Rs 5.47 crore in Q1 FY24 to Rs 21.58 crore in the quarter under review. The classified segment accounted for Rs 46.6 crore of the total revenue while Rs 44.06 crore in revenue was sourced from the remarketing business with a 1.7% YoY growth in the first quarter of FY25.
In Q1 FY25, the consumer segment contributed Rs 50.46 crore to the total revenue while it was Rs 42.84 crore in the year-ago quarter.
CarTrade’s total expenses jumped by 45% to Rs 132.2 crore in Q1 FY25 from Rs 91.14 crore in the year-ago quarter. Employee benefit expenses accounted for Rs 70.62 crore in the quarter ended June 2024 against Rs 51.56 crore in Q1 FY24.
The Mumbai-headquartered company’s regulatory filings indicate that it has expanded its employee stock option plan pool size by granting 1 lakh ESOP options under CarTrade Tech Limited ESOP 2021 (I) scheme. The company has granted 13,000 equity shares pursuant to avail options under ESOP 2010 and ESOP 2015.
Shares of CarTrade were trading at Rs 861.15 apiece on the BSE at 3:46 PM on Tuesday, 3% down from the previous close.
