1. Opening Hook
While EV startups burn cash faster than Diwali crackers, CarTrade quietly pulled off a 109% profit surge. Turns out, selling used cars is more lucrative than selling dreams of autonomous ones. Every quarter, skeptics asked, “But what does CarTrade really do?” — and this time, Vinay Sanghi replied, “Make money.”
The MD even flexed that costs stayed flat despite revenue up 29% — rare discipline in India’s tech circus.
As the Bible says, “By their fruits ye shall know them.” This quarter’s fruit was ₹64 crore in profit — juicy enough to silence the cynics.
Buckle up — because the management’s optimism could power an electric car. ⚡
2. At a Glance
- Revenue ₹222 Cr (+29%) – Turns out OLX isn’t just for selling old sofas anymore.
- PAT ₹64 Cr (+109%) – The “tech” finally paid rent.
- EBITDA ₹96 Cr (+46% QoQ) – Efficiency, not astrology, drove this surge.
- EBITDA Margin 33% (↑12 pts YoY) – Fat margins, zero guilt.
- Cash ₹1,080 Cr – Sitting on a money mountain, debating whether to climb or share.
- Stock reaction: Likely investors whispering, “Wait, this isn’t a loss-making tech play?”
3. Management’s Key Commentary
“Profits surged 109% to ₹64 crore — best-ever quarter in history.”
(Translation: We’ve stopped experimenting and started counting money.) 💰
“Every vertical achieved its highest revenue and profits.”
(Translation: Even OLX, the lazy cousin, got a job.)
“Costs remained flat at ₹129 crore despite 28% revenue growth.”
(Translation: No one got new bean bags, but shareholders got returns.)
“OLX achieved 30% EBITDA margin with 213% profit growth.”
(Translation: They found monetization faster than most unicorns find logos.)
“CarWale and BikeWale grew 37% YoY with only 3% cost increase.”
(Translation: Cars and
