CarTrade reports modest profit growth for Q2
CarTrade Tech reported a consolidated net profit of 660 million rupees for the September quarter, driven by a 10% rise in operational revenue.
Automotive classifieds platform CarTrade Tech reported a net profit of 660 million rupees for the fiscal second quarter, a 3% increase over the same period last year. Revenue from operations reached 2.13 billion rupees, representing a 10% year-on-year growth.
The results reflect the continued integration of OLX India, which the company acquired in 2023. OLX India recorded a 26% revenue increase and a 36% rise in EBITDA, contributing significantly to the group's performance. The broader group now operates across more than 500 physical locations while maintaining substantial traffic across its primary digital platforms, CarWale, BikeWale, and OLX.
Strategically, the company is shifting toward AI-enabled tools to increase engagement. During the quarter, CarTrade launched an AI assistant for new-car buyers and 'VAYA Live,' a data intelligence platform for automotive original equipment manufacturers and dealers. These tools leverage proprietary datasets from the company's various portals to provide market analytics and targeted buyer outreach.