Cartrade Tech consolidated net profit rises 85.70% in the March 2025 quarter
Net profit of Cartrade Tech rose 85.70% to Rs 41.82 crore in the quarter ended March 2025 as against Rs 22.52 crore during the previous quarter ended March 2024. Sales rose 16.68% to Rs 169.51 crore in the quarter ended March 2025 as against Rs 145.28 crore during the previous quarter ended March 2024.
For the full year,net profit rose 841.61% to Rs 134.65 crore in the year ended March 2025 as against Rs 14.30 crore during the previous year ended March 2024. Sales rose 30.85% to Rs 641.12 crore in the year ended March 2025 as against Rs 489.95 crore during the previous year ended March 2024.
Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 169.51145.28 17 641.12489.95 31 OPM % 27.2318.81 - 23.4816.20 - PBDT 62.9840.10 57 208.88135.43 54 PBT 53.3329.73 79 168.0298.03 71 NP 41.8222.52 86 134.6514.30 842
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Gazette
39 minutes ago
- India Gazette
Digital infrastructure transforms India's tax administration, refunds surge 474%
By Shailesh Yadav New Delhi [India], July 13 (ANI): India's tax administration has undergone a dramatic transformation over the past decade, with taxpayer refunds growing at nearly double the pace of tax collections, Ministry of Finance sources told ANI. The numbers paint a striking picture of administrative efficiency gains. Between 2013-14 and 2024-25, refunds issued to taxpayers have skyrocketed by 474 per cent, rising from Rs 83,008 crores to Rs 4,76,743 crores. This growth significantly outpaces the 274 per cent increase in gross direct tax collections during the same period, which rose from Rs 7,21,604 crores to Rs 27,02,974 crores. Perhaps most impressive is the speed of refund processing. The average time to issue tax refunds has plummeted from 93 days in 2013 to just 17 days in 2024 - an 81 per cent reduction that reflects the success of digital modernization efforts. The transformation is largely attributed to comprehensive digitization of tax processes. The introduction of end-to-end online filing systems, faceless assessments, and automated refund processing has eliminated traditional bottlenecks that previously delayed taxpayer services. 'The adoption of digital infrastructure including pre-filled returns, real-time TDS adjustments, and online grievance redress mechanisms has fundamentally changed how we serve taxpayers,' a senior CBDT official familiar with the modernisation program told ANI. The taxpayer base has also expanded significantly, with income tax returns filed growing from 3.8 crores in 2013 to 8.89 crores in 2024 - a 133 per cent increase that demonstrates growing formalisation of India's economy. The proportion of refunds relative to gross tax collections has risen from 11.5 per cent in 2013-14 to 17.6 per cent in 2024-25. 'Growing refunds reflect increased voluntary compliance and the deepening of advance tax payment mechanisms,' said another senior Income Tax offcial. 'As more taxpayers participate in formal tax processes and TDS coverage expands, excess remittances naturally become more common,' the official added. The surge in refunds and their faster processing carry significant economic implications. Quicker refund turnaround time improves cash flow for businesses and individuals, while the growth in refund volumes signals expanding participation in India's formal economy. The data suggests that India's tax ecosystem has achieved what officials describe as 'systemic maturity' - a state where efficiency, transparency, and taxpayer facilitation have become embedded principles rather than aspirational goals. (ANI)
Hans India
an hour ago
- Hans India
Startup funding stands at $95 million this week
New Delhi: Startup funding in India stood at around $95 million this week, with 17 startups securing investments across various stages. Out of these, five were growth-stage deals and 10 were early-stage, while two startups chose not to disclose their funding details. Among cities, Bengaluru-based startups led with six deals, followed by Delhi-NCR with four. Mumbai, Hyderabad and other cities also witnessed activity. Fintech emerged as the most funded sector this week with four deals. Deeptech and SaaS startups followed with two deals each, while proptech, foodtech, and OTT startups also raised funds. Seed funding rounds dominated this week, with seven deals. Series A and pre-Series A rounds saw two deals each, while pre-IPO, debt, and Series B rounds also featured. The average startup funding over the past eight weeks stands at around $205.24 million, with roughly 21 deals per week. Growth and late-stage startups collectively raised $72.9 million. Leading the pack was IPO-bound proptech firm Smartworks, which raised $20 million in a pre-IPO round. Education-focused NBFC Varthana secured Rs 159 crore (approximately $18.5 million) through debt financing. Clean-label food brand Kehtika raised $18 million in a Series B round led by Narotam Sekhsaria Family Office and Anicut Capital. Fintech player Credit Wise Capital and Avis Hospital were also part of the funding list this week. In the early-stage category, 10 startups raised a total of $22.11 million. Tech-enabled NBFC InPrime Finserv led this segment by raising $6 million in its Series A round from Pravega Ventures. Other notable startups that raised funds include NRI-focused fintech platform Belong, OTT microdrama app Chai Bisket, home services startup Clean Fanatics, and deeptech firm Green Aero. Meanwhile, cybersecurity startup LdotR and SaaS platform Monetize360 also raised capital but did not disclose the amounts. In strategic developments, workspace solution provider Incuspaze acquired VSKOUT, a B2B SaaS platform offering curated data analytics for commercial real estate. Separately, Infinity Fincorp Solution, a non-bank lender, signed a share purchase and subscription agreement with global investment firm Partners Group, which will acquire a significant majority stake in the company.
Indian Express
an hour ago
- Indian Express
IPO boom: 162 companies eye Rs 2.4 lakh crore in record fundraising drive
Driven by strong economic fundamentals and rising interest from retail investors, India's IPO market is heading for a busy second half of 2025. Nearly 162 companies—including big names like LG Electronics and Tata Capital Ltd—are preparing to hit the markets, collectively aiming to raise a record Rs 2.4 lakh crore through public offerings. Experts say this fundraising spree is unlike anything the capital market has seen before and comes at a time when stock markets have stabilised and geopolitical tensions in the Middle East have eased. As of the end of June 2025, 71 companies had secured approval from the Securities and Exchange Board of India (SEBI) to launch their IPOs, with plans to collectively raise around Rs 1.14 lakh crore, according to data from Prime Database. Among them, LG Electronics India — a fully owned subsidiary of South Korea's LG Electronics and a key player in home appliances and consumer electronics — is eyeing a Rs 15,000 crore offering. Several companies are lining up for IPOs as India's primary market continues its strong momentum. Among them, Dorf Ketal Chemicals India and Credila Financial Services Ltd are each planning to raise Rs 5,000 crore. Other major IPOs in the pipeline include JSW Cement and SMPP Ltd, targeting Rs 4,000 crore each. Hero Fincorp is looking to raise Rs 3,668 crore, while National Securities Depository Ltd (NSDL) and Continuum Green Energy Ltd aim to raise Rs 3,400 crore and Rs 3,650 crore, respectively. Anthem Biosciences Ltd is set to open its Rs 3,395 crore IPO for public subscription on Monday, July 14. The IPO market remains active with 90 companies having filed their Draft Red Herring Prospectus (DRHP) with SEBI in the current calendar year, up to July 2, 2025. These companies are awaiting regulatory approval to go public. Together, they aim to raise a total of Rs 1.17 lakh crore, according to data from Prime Database. Tata Capital Ltd has the largest proposed issue, seeking to raise Rs 17,200 crore through a primary market share sale. Other significant IPOs include Meesho Ltd at Rs 4,250 crore, PhysicsWallah Ltd and Orkla India Pvt Ltd with Rs 4,000 crore and Rs 3,200 crore respectively, while Juniper Green Energy and Tenneco Clean Air India Ltd are looking to raise Rs 3,000 crore each. Just last week, ICICI Prudential Asset Management Company, India's second-largest asset manager, filed draft papers with SEBI for a massive Rs 10,000 crore IPO. 'The IPO pipeline is the largest it has ever been in the Indian market. Unless there is major negative news flow, I expect a very strong second half of the year,' said Pranav Haldea, Managing Director at Prime Database Group. Out of the 71 companies that have already received SEBI's approval to launch their IPOs, 18 were cleared in 2024 but have still not gone public, leading to questions about their plans. According to a market source, these companies may have received lukewarm feedback about the potential success of their IPOs. 'It's also possible they explored the grey market response and decided it wasn't strong enough to move forward,' the source said. Haldea attributes this delay to potential valuation mismatches, investor feedback, or strategic shifts within the companies. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, pointed out that after markets hit an all-time high in September 2024, a correction of nearly 20 per cent followed. 'When there's a 20 per cent correction from peak levels, companies with IPO approvals become cautious and prefer to wait for more favourable conditions. That's why, despite approvals, many are holding back,' he said. Despite geopolitical uncertainties, India's IPO market remained resilient in the first half of 2025. Up to July 2, a total of 25 companies raised over Rs 46,000 crore. Among the major issuances was HDB Financial Services, which raised Rs 12,500 crore in June, marking the largest IPO by a non-banking finance company and the biggest since Hyundai Motor India's Rs 27,870 crore IPO in 2024. The surge in IPO activity during January–June 2025 has been supported by strong macroeconomic fundamentals, a stable stock market, low inflation, favourable monetary and fiscal policies, IPO-friendly reforms, and growing retail investor participation. 'Primary markets tend to mirror the mood in secondary markets. With buoyancy returning since April, we've seen a noticeable uptick in IPO activity in recent months,' Haldea added. SimranJeet Singh Bhatia, Senior Equity Research Analyst at Almondz Global Securities Ltd, said India's macroeconomic indicators remain solid, with GDP growth at 6.5 per cent in FY25 and expected to stay above 6 per cent in FY26, despite global headwinds and uncertainty over U.S. President Donald Trump's new tariffs. In May, domestic retail inflation eased to 2.82 per cent, the lowest in over six years. GST collections in June grew by 6.5 per cent year-on-year, crossing Rs 1.80 lakh crore for the second consecutive month. Bhatia noted that this easing inflation prompted the RBI to cut the repo rate by 50 basis points to 5.5 per cent, which has restored foreign investor confidence and boosted both equity and IPO markets. Looking ahead, experts believe the IPO market in 2025 could reach record levels, fuelled by renewed investor confidence, a healthy economic outlook, and the expected listing of several high-quality companies. 'We anticipate continued momentum in the IPO space, driven by companies with strong financials and attractive valuations. Some of the major upcoming listings include NSDL, Tata Capital, Canara Robeco AMC (by Canara Bank), Hero Fincorp, LG Electronics, and Prestige Hospitality (by Prestige Estates),' Bhatia said.
