Cartrade Tech Limited has informed the Exchange about Transcript
CARTRADE · price
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CarTrade Tech reported its best-ever quarter with consolidated revenue up 29% year-on-year to INR222 crores and profit after tax surging 109% to INR64 crores. All three verticals - Consumer (CarWale/BikeWale), Remarketing, and OLX India - hit record revenues and profits, with the Consumer group EBITDA margin reaching 40% (called 'best-in-class' by management) and OLX hitting 30% EBITDA margin. The cost base remained largely flat, with year-on-year cost growth of only 8% against 28% revenue growth, showing strong operating leverage. Cash on the balance sheet stands at INR1,080 crores, and management said any unused cash could be returned to shareholders if not deployed in M&A. Management expressed confidence in sustaining 25%+ growth in the Consumer business over the next 3-5 years and expects margins to continue expanding, with new monetization levers like the Elite Buyer Program and an upcoming trust verification product.
Strong all-round performance with record numbers across all verticals, sharp margin expansion, and a robust cash position is positive for shareholders. Management's confidence in sustained growth and continued margin improvement could support the stock, though no specific timeframe was given for the ROE reaching best-in-class levels.