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CarTrade Tech Q2 FY27 results: net profit up 2.9% to ₹65.95 crore, revenue up 10.2%
CarTrade Tech Limited reported Q2 FY27 consolidated revenue of ₹213.09 crore, up 10.2% from a year ago and 5.9% from Q1 FY27. EBITDA rose 19.5% year on year to ₹76 crore, while the margin expanded 2.8 percentage points to 35.7%; net profit was ₹65.95 crore and basic EPS was ₹12.30.
Key points
- Revenue was ₹213.09 crore, up ₹19.68 crore or 10.2% from Q2 FY26 and ₹11.93 crore or 5.9% from Q1 FY27.
- EBITDA was ₹76 crore, up ₹12.41 crore or 19.5% from Q2 FY26 and ₹13.02 crore or 20.7% from Q1 FY27.
- EBITDA margin was 35.7%, up 2.8 percentage points from Q2 FY26 and 4.4 percentage points from Q1 FY27.
- Net profit was ₹65.95 crore, up ₹1.87 crore or 2.9% from Q2 FY26 and ₹9.20 crore or 16.2% from Q1 FY27.
- Basic EPS was ₹12.30, down ₹0.26 from Q2 FY26 and up ₹1.61 from Q1 FY27.
How did CarTrade Tech perform in Q2 FY27?
CarTrade Tech reported consolidated revenue from operations of ₹213.09 crore for Q2 FY27, against ₹193.41 crore in Q2 FY26 and ₹201.16 crore in Q1 FY27. Total income was ₹236.23 crore, compared with ₹222.14 crore a year earlier and ₹229.74 crore in the previous quarter.
EBITDA rose to ₹76 crore from ₹63.59 crore in Q2 FY26 and ₹62.98 crore in Q1 FY27. The EBITDA margin was 35.7%, compared with 32.9% a year ago and 31.3% in the previous quarter. Profit before tax was ₹85.45 crore, while net profit was ₹65.95 crore and profit attributable to equity holders was ₹59.49 crore.
Basic EPS was ₹12.30, against ₹12.56 in Q2 FY26 and ₹10.69 in Q1 FY27. On the standalone basis, revenue was ₹79.49 crore and profit attributable to equity holders was ₹28.69 crore, while profit before tax was ₹32.33 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 213.09 | 201.16 | 193.41 | +10.2% | +5.9% |
| Other income | 23.13 | 28.57 | 28.73 | −19.5% | −19.0% |
| Total expenses | 150.78 | 152.15 | 142.22 | +6.0% | −0.9% |
| EBITDA | 76 | 62.98 | 63.59 | +19.5% | +20.7% |
| EBITDA margin | 35.7% | 31.3% | 32.9% | +2.8 pp | +4.4 pp |
| Profit before tax | 85.45 | 74.52 | 79.92 | +6.9% | +14.7% |
| Tax | 19.49 | 17.76 | 15.85 | +23.0% | +9.7% |
| Net profit | 65.95 | 56.75 | 64.08 | +2.9% | +16.2% |
| EPS (₹) | 12.30 | 10.69 | 12.56 | −2.1% | +15.1% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in CarTrade Tech's costs and profit?
Total expenses were ₹150.78 crore, up ₹8.56 crore or 6.0% from Q2 FY26, as employee benefit expense rose ₹6.12 crore or 7.9% to ₹83.67 crore and depreciation and amortisation rose ₹1.28 crore or 13.7% to ₹10.65 crore. Other expenses rose ₹1.14 crore or 2.2% to ₹53.41 crore, while finance costs were ₹3.04 crore.
Other income fell ₹5.60 crore or 19.5% to ₹23.13 crore from ₹28.73 crore. The company said Q2 FY26 included approximately ₹10 crore of write-backs at OLX, while H1 FY26 included ₹14 crore, which affected the comparison. There was no exceptional item in Q2 FY27, against a ₹3.08 crore charge in Q1 FY27.
Tax expense rose ₹3.64 crore or 23.0% to ₹19.49 crore from ₹15.85 crore in Q2 FY26. Management said OLX had a tax-shelter benefit in the prior-year quarter but was taxed in Q2 FY27. Profit before tax rose ₹5.53 crore or 6.9% to ₹85.45 crore, while net profit rose ₹1.87 crore or 2.9% to ₹65.95 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 83.67 | 77.55 | +6.12 | +7.9% |
| Finance costs | 3.04 | 3.03 | +0.01 | +0.3% |
| Depreciation | 10.65 | 9.37 | +1.28 | +13.7% |
| Other expenses | 53.41 | 52.27 | +1.14 | +2.2% |
| Total expenses | 150.78 | 142.22 | +8.56 | +6.0% |
| Other income | 23.13 | 28.73 | −5.60 | −19.5% |
| Tax | 19.49 | 15.85 | +3.64 | +23.0% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹414.25 crore, up ₹47.8 crore or 13.0% from ₹366.45 crore in H1 FY26. Total income rose ₹45.32 crore or 10.8% to ₹465.96 crore, from ₹420.64 crore.
Profit before tax increased ₹23.13 crore or 16.9% to ₹159.97 crore, while net profit rose ₹11.57 crore or 10.4% to ₹122.71 crore. Basic EPS was ₹22.99, against ₹21.59 in H1 FY26, an increase of ₹1.4 or 6.5%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 414.25 | 366.45 | +13.0% |
| Profit before tax | 159.97 | 136.84 | +16.9% |
| Net profit | 122.71 | 111.14 | +10.4% |
| EPS (₹) | 22.99 | 21.59 | +6.5% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹3166.09 crore on 30 September 2026, against ₹3009.2 crore on 31 March 2026. Total equity rose to ₹2785.48 crore from ₹2618.43 crore, while cash and cash equivalents increased to ₹56.46 crore from ₹31.4 crore and borrowings remained nil.
Trade receivables fell to ₹88.63 crore from ₹92.99 crore, and trade payables rose to ₹32.4 crore from ₹32.33 crore. H1 FY27 operating cash flow was ₹137.51 crore, compared with ₹92.39 crore in H1 FY26; investing cash flow was negative ₹122.12 crore against negative ₹73.96 crore, and financing cash flow was ₹9.67 crore against negative ₹14.1 crore.
Capital expenditure was ₹36.26 crore in H1 FY27, against ₹2.07 crore in H1 FY26. The company’s investor presentation separately stated that cash reserves were ₹1401 crores as of 30 September 2026.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,166 | 3,009 |
| Total equity | 2,785 | 2,618 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 56.46 | 31.40 |
| Inventories | 0 | 0 |
| Trade receivables | 88.63 | 92.99 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 137.51 | 92.39 |
| Cash from investing | −122.12 | −73.96 |
| Cash from financing | 9.67 | −14.10 |
| Capital expenditure | 36.26 | 2.07 |
Source: Company's results filing (XBRL).
How has CarTrade Tech done over the last 8 quarters?
Revenue reached its highest level of the reported series at ₹213.09 crore in Q2 FY27, after falling from ₹209.67 crore in Q3 FY26 to ₹203.14 crore in Q4 FY26 and ₹201.16 crore in Q1 FY27. Revenue had risen year on year in each of the last eight quarters.
Net profit reached ₹65.95 crore in Q2 FY27, above ₹64.08 crore in Q2 FY26 but below the ₹70.85 crore reported in Q4 FY26. The EBITDA margin was 35.7%, above 31.3% in Q1 FY27 but below the 37.3% peak in Q3 FY26; profit had risen year on year in each of the last seven quarters.
Which businesses drove the quarter?
Consumer revenue was ₹79.49 crore, up 4.3% from ₹76.25 crore in Q2 FY26, while segment EBIT was ₹34.4 crore against ₹31.73 crore. The reported EBIT margin was 43.3%.
Remarketing revenue rose 12.3% to ₹70.3 crore from ₹62.62 crore, while EBIT rose to ₹21.21 crore from ₹16.42 crore. Its reported EBIT margin was 30.2%.
Classifieds revenue increased 26.4% to ₹70.18 crore from ₹55.52 crore, and EBIT rose to ₹26.73 crore from ₹18.85 crore. The reported EBIT margin was 38.1%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Consumer | 79.49 | +4.3% | 34.40 | 43.3% |
| Remarketing | 70.30 | +12.3% | 21.21 | 30.2% |
| Classifieds | 70.18 | +26.4% | 26.73 | 38.1% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026 on 28 October 2026. The filing also included the limited review report signed by the statutory auditors. The company filed an investor presentation on the same day; no dividend, fund raise or appointment was reported in the supplied same-day filings.
What did CarTrade Tech's management say?
Management reiterated that Q3 FY27 should be the best-ever quarter for almost all businesses. It expects New Auto and consumer revenue to exceed Q2 FY27, OLX revenue growth to exceed 26% in coming quarters and cross 30%-35%, and VAYA Live to launch for OEM, enterprise and consumer users during Q3 FY27.
Management expects Group EBITDA to deliver sequential growth similar to Q2 FY27, at about 20%, and said the company is progressing towards its 40% group-margin goal as revenue scales while costs remain broadly stable. It reiterated the goal of INR 1,000 crore of profit in the next four-five years.
Management identified consumer comparisons distorted by the September 2025 GST cut and shifting festival timing. It also said monthly traffic recovery and conversion into revenue remain uncertain, while OLX e-commerce and financing products are early-stage and may take multiple quarters.
How did CarTrade Tech shares react?
After the filing appeared, the stock fell 12.5% after five minutes, 16.9% after 15 minutes and 17.6% after 30 minutes. It closed the reaction day 13.8% below the previous close, and by the next day's close it was 17.8% below that pre-results close.
Earlier reaction-day moves were mixed: the stock fell 4.0% on 29 July 2026, rose 6.3% on 7 May 2026, fell 5.7% on 28 January 2026, rose 14.8% on 28 October 2025, rose 9.1% on 28 July 2025, fell 2.1% on 7 May 2025, rose 12.6% on 29 January 2025 and rose 6.1% on 28 October 2024.
| After the filing | Stock | E-Retail/ E-Commerce median |
|---|---|---|
| 5 minutes | −12.5% | |
| 15 minutes | −16.9% | |
| 30 minutes | −17.6% | |
| Reaction day | −13.8% | +2.0% |
| Next day | −17.8% | +2.1% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 29 July 2026 | −4.0% |
| 7 May 2026 | +6.3% |
| 28 January 2026 | −5.7% |
| 28 October 2025 | +14.8% |
| 28 July 2025 | +9.1% |
| 7 May 2025 | −2.1% |
| 29 January 2025 | +12.6% |
| 28 October 2024 | +6.1% |
Source: MarketPing price-reaction measurement.
How did other E-Retail/ E-Commerce companies do?
Eight E-Retail/E-Commerce companies that filed for the quarter had a median revenue growth of 38.5%. Three peers grew more slowly than CarTrade Tech, while five grew faster than the company.
Five peers reported higher profit. Profit was compared for six peers, while revenue growth was compared across the eight companies that filed for the quarter.
| CarTrade Tech revenue growth (YoY) | +10.2% |
|---|---|
| Median of 8 other E-Retail/ E-Commerce companies | +38.5% |
| Companies with slower revenue growth than CarTrade Tech | 3 of 8 |
| Companies with faster revenue growth than CarTrade Tech | 5 of 8 |
| Companies whose net profit rose | 5 of 6 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was CarTrade Tech's revenue in Q2 FY27?
Revenue from operations was ₹213.09 crore, up 10.2% from ₹193.41 crore in Q2 FY26 (consolidated).
Did CarTrade Tech make a profit in Q2 FY27?
Yes. Net profit was ₹65.95 crore, against a net profit of ₹64.08 crore in Q2 FY26.
What was CarTrade Tech's EPS in Q2 FY27?
Basic earnings per share were ₹12.30, against ₹12.56 in Q2 FY26.
How did CarTrade Tech shares react to the Q2 FY27 results?
On the reaction day the stock moved −13.8% from the previous close; the median E-Retail/ E-Commerce stock moved +2.0%.
When did CarTrade Tech announce its Q2 FY27 results?
On 28 October 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 28 October 2026) · PDF
- The earnings call (4 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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