CarTrade Back In The Black With INR 25 Cr PAT In Q4; Revenue Jumps 38% YoY
India, May 6 -- Online classifieds and auto auction platform CarTrade Technologies reported a 43% jump in profit after tax (PAT) to INR 25 Cr in the March quarter (Q4) of the financial year 2023-24 (FY24) from INR 17.5 Cr posted in the same quarter last year, largely helped by OLX's classifieds business.
It is pertinent to note that the company had slipped into the red in the prior quarter - Q3 FY24 - with a net loss of INR 23.5 Cr, largely due to the OLX auto business which it shut in that quarter.
CarTrade's operating revenue surged 51.5% to INR 145.3 Cr in the reported quarter from INR 95.9 Cr in Q4 FY23.
CarTrade also reported its highest-ever quarterly total revenue of INR 161 Cr in Q4 FY24. On a quarter-on-quarter basis, this was...
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