Latest news with #OLXIndia
Business Standard
4 days ago
- Automotive
- Business Standard
Cartrade spurts as Q1 PAT climbs 106% YoY to Rs 47 cr
Cartrade Tech surged 10.88% to Rs 2,104.25 after the company reported a 105.59% jump in consolidated net profit to Rs 47.06 crore in Q1 FY26 as compared with Rs 22.89 crore in Q1 FY25. Revenue from operations increased 22.27% year-on-year to Rs 173.03 crore in Q1 FY26. During the quarter, profit before tax (PBT) stood at Rs 56.91 crore in Q1 FY26, marking a 132.38% increase compared to Rs 24.49 crore reported in Q1 FY25. EBITDA stood at Rs 43.51 crore in Q1 FY26, up 98% compared to Rs 21.92 crore in Q1 FY25. Total expenses rose by 7.09% to Rs 141.58 crore during the quarter. Employee benefit expenses stood at Rs 75.22 crore, reflecting a 6.51% year-on-year increase. Finance costs amounted to Rs 3.02 crore, up 18.89% YoY, while depreciation and amortization expenses declined by 10.33% YoY to Rs 9.02 crore. On the segment front, revenue from the Consumer Group stood at Rs 66.38 crore, registering a 31.54% year-on-year increase. Revenue from the Remarketing segment was Rs 59.39 crore, while revenue from Classifieds rose 2.38% YoY to Rs 48.14 crore. The company attracted approximately 75 million average monthly unique visitors during Q1 FY26, with 95% of the traffic being organic, highlighting its strong brand equity and content leadership. OLX India sustained its growth momentum, recording a 71% year-on-year increase in profits, driven by operating leverage and integration synergies. Vinay Sanghi, chairman and founder, CarTrade Tech, said, We are pleased to report a strong start to FY26 with Revenue of Rs 198.5 crores, up by 27% year-onyear, and profit after tax of Rs 47.06 crores, growing by 106%. This quarters performance, reflecting our highest ever in both revenue and profit, is a testament to the strength of our ecosystem and the efficiency of our platform-led model. The consistent growth across our Consumer, Remarketing, and OLX India businesses highlights the depth of our offerings and the trust we have built with customers and partners. We remain focused on driving innovation and have recently intensified our AI-led initiatives to enhance customer experience, improve operational efficiency, and enable smarter, data-driven decision-making across platforms. Our continued investments in technology, data science, and automation will play a pivotal role as we scale further and unlock new value across all our digital platform. CarTrade Tech is a multi-channel auto platform with its presence across all vehicle types and value-added services. The platform operates under several brands: CarWale, CarTrade, Olx India, Shriram Automall, BikeWale, CarTrade Exchange and Adroit Auto.
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Business Standard
4 days ago
- Automotive
- Business Standard
CarTrade Tech hits all-time high, zooms 146% in 11 months; here's why
CarTrade Tech share price today Shares of CarTrade Tech hit a new high of ₹2,140, soaring 13 per cent on the BSE in Monday's intra-day trade amid heavy volumes after the company's net profit more-than-doubled in the quarter ended June 2025 (Q1FY26). The stock price of the smallcap company surpassed its previous high of ₹1,999.50 touched on July 14, 2025. Thus far in the month of July, the stock has outperformed the market by surging 25 per cent, as compared to 3 per cent decline in the BSE Sensex. In the past 11 months, it has zoomed 146 per cent and 161 per cent from its 52-week low of ₹817.75 touched on August 14, 2024. It has bounced back 528 per cent from its all-time low of ₹341 hit in March 2023. Prior to that, it fell 79 per cent against its issue price of ₹1,618 per share. Currently, CarTrade Tech trades 32 per cent higher when compared with its issue price. The company made its stock market debut on August 20, 2021. Q1FY26 results - CarTrade Tech In Q1FY26, CarTrade Tech, one of India's largest online classifieds and auto auction platforms, reported its highest-ever quarterly revenue of ₹198.50 crore, representing a 27 per cent year-on-year (YoY) growth, and PAT of ₹47.06 crore, up 106 per cent YoY. The consumer group continued to scale profitably, delivering 32 per cent YoY revenue growth and 79 per cent YoY PAT growth. The remarketing business posted robust results with 36 per cent YoY revenue growth and 258 per cent YoY PAT growth. Its group company, OLX India maintained momentum with 71 per cent YoY growth in profits, benefiting from operating leverage and integration synergies. The company attracted ~75 million average monthly unique visitors during Q1FY26, with 95 per cent of the traffic being organic, underlining strong brand equity and content leadership. The management said the company remains focused on driving innovation and have recently intensified our AI-led initiatives to enhance customer experience, improve operational efficiency, and enable smarter, data-driven decision-making across platforms. Crisil Ratings view on used-car volume The sales volume of used cars in India is expected to cross ~6 million units this fiscal driven by value-conscious demand, rising digital adoption and better access to finance. This has lifted the used-to-new ratio in car sales to 1.4 from less than 1 five years ago, with the volume growing more than twice as fast. The market value of these used cars is estimated to be around ₹4 lakh crore, nearly matching that of new car sales. After a tepid 5 per cent volume growth seen between fiscal 2017-24, used vehicle sales grew at a strong ~8 per cent last fiscal and is poised to grow up to 10 per cent this fiscal too. Looking ahead, the used car market is expected to remain structurally steady, but availability of quality inventory will bear watching, Crisil Ratings said. About CarTrade Tech CarTrade Tech is India's largest digital marketplace ecosystem, operating multiple platforms including CarWale, BikeWale, CarTrade, OLX India, Shriram Automall, CarTrade Exchange, and Adroit Auto. These platforms empower millions of users including consumers, dealers, OEMs, and enterprises to buy and sell vehicles, real estate, electronics, mobile phones, furniture, and more with ease and efficiency. With a strong digital footprint, each of their three platforms (CarWale, BikeWale and OLX India) crossed 150 million yearly unique visitors with more than 95 per cent of the traffic being generated organically, and the remarketing business achieved 1.4 million listings for auction in FY25.
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Business Standard
07-07-2025
- Automotive
- Business Standard
OLX India launches Elite Buyer plan to improve second-hand deals
OLX India has launched a subscription-based feature called the Elite Buyer Program, aimed at users seeking faster and more reliable access to second-hand goods. The platform, which attracts over 180 million users annually, said the new programme would function across major categories including cars, bikes, real estate, electronics, mobiles and furniture. Subscribers will receive an Elite badge that appears during chats with sellers. According to the company, this is intended to improve response rates and speed up transactions. The programme is available on a per-category basis. Buyers wanting access to listings in more than one category will need to purchase separate subscriptions. • Mobiles – Rs 49 • Real estate – Rs 199 • Bikes, electronics, furniture – Rs 99 each • Cars – Rs 199 The Elite Buyer Pro (Tag + Leads Pack) plan builds on the basic offering by including verified leads along with unlimited chats for 30 days. Due to the added value, prices are higher: • Mobiles – Rs 799 • Real estate – Rs 3,999 • Bikes, furniture – Rs 1,299 each • Electronics – Rs 1,999 • Cars – Rs 3,999 'Most buyers tend to operate within a single category, so the programme has been built accordingly,' said Vinay Sanghi, Chairman and Founder of CarTrade Tech. OLX handles about 53 million buyers and 18 million sellers annually. The company claims to facilitate $3 billion worth of used goods sales each year, with a gross merchandise value (GMV) of $29 billion across listings. The platform receives listings across 12 categories and sees an average of 35 million unique visitors per month. Used cars, two-wheelers and mobile electronics remain among the platform's most active segments. According to Sanghi, used-car transactions on OLX have exceeded volumes in the new car market. Other active categories include furniture and white goods. OLX confirmed that the Elite Buyer programme will be followed by multiple technology rollouts over the coming months, including AI-driven verification, listing optimisation and enhanced trust and safety systems. Sanghi said tech development is handled in-house and forms part of the platform's ongoing operating expenses. The company is also working on future tools to enable payments, logistics and financing support, although it will continue to operate as a listings-first platform for the foreseeable future.
Time of India
21-05-2025
- Automotive
- Time of India
OLX India appoints Olive Sen as chief business officer
HighlightsOlive Sen has been appointed as Chief Business Officer for the Horizontal Business Unit (Non-Autos) at OLX India, focusing on growth across categories like Real Estate, Jobs, Mobiles, and Electronics. With over a decade of experience in the consumer internet and digital marketplace ecosystems, Olive Sen has previously held significant roles at OLX Group, BetterPlace, and Nissan Motors. Vinay Sanghi, Chairman and Founder of CarTrade Tech, expressed confidence in Olive Sen's leadership to drive growth and enhance user engagement in the Non-Autos categories for OLX India. OLX India , an online classifieds platform, has appointed Olive Sen as chief business officer – horizontal business unit (non-autos). In this strategic role, he will spearhead growth and innovation across the real estate, jobs, mobiles, electronics and more categories , strengthening OLX India's commitment to serve over a billion Indian users. Sen brings over a decade of diverse experience spanning the consumer internet, product strategy, and digital marketplace ecosystems. He spent more than 7.5 years in the classifieds space, including over six years at OLX Group , where he led product, marketing, and analytics functions—playing a key role in driving user growth, engagement, and monetization across the platform. Prior to rejoining OLX, he served as chief product officer at BetterPlace, a full-stack workforce management platform, and held leadership roles at and NYX. An IIT Kharagpur graduate, Sen has previously worked with Nissan Motors and ZS Associates, building a strong foundation in engineering and consulting before moving into product leadership roles. Vinay Sanghi, chairman and founder, CarTrade Tech, said, 'We are excited to welcome Olive back to OLX. His deep understanding of the platform, coupled with a strong strategic vision, makes him the ideal leader to drive our horizontal business unit (non-autos) business forward. We are confident that his leadership will unlock new avenues of growth and significantly enhance user engagement in these categories.' Commenting on his appointment, Sen said, 'I'm excited to return to OLX India at a time when the classifieds space is evolving rapidly. The Non-Autos categories —from consumer goods to real estate and jobs—represent a massive opportunity to build for scale and depth. I'm looking forward to working with the incredible team at OLX to unlock this potential and deliver meaningful experiences for our users.' This appointment aligns with OLX India's broader vision to be a trusted platform that connects buyers and sellers across every aspect of daily life.
Business Standard
07-05-2025
- Automotive
- Business Standard
Cartrade Q4 PAT climbs 85% YoY to Rs 46 cr
Cartrade Tech reported a 84.7% jump in consolidated net profit to Rs 46.10 crore in Q4 FY25 as compared with Rs 24.96 crore in Q4 FY24. Revenue from operations increased 16.69% YoY to Rs 169.51 crore in Q4 FY25. During the quarter profit before tax (PBT) stood at Rs 53.33 crore, up 79.44% YoY. On segment front, revenue from Consumer Group stood at Rs 63.64 crore, up 29% YoY and 100% increase in PAT to Rs 21.44 crore in Q4FY25. Revenue from the Remarketing Business stood at Rs 58.69 crore in Q4 FY25, up 11% YoY. And revenue from OLX India jumped 10% YoY to Rs 47.71 crore in Q4 FY25. The company received average monthly unique visitors in Q4FY25, at approximately 74 million, 95% of which are organic. On full year basis, the companys consolidated net profit surged to Rs 145.26 crore in FY25 as compared with Rs 19.97 crore in FY24. Revenue from operations jumped 30.85% YoY to Rs 641.11 crore in FY25. Vinay Sanghi, chairman and founder, CarTrade Tech, said, FY25 has been a landmark year for CarTrade Tech the highest revenue, the highest profit, and a clear demonstration of the power of our multi-platform strategy. Weve delivered consistent, profitable, growth, driven by execution excellence, technology innovation, and the unmatched trust our users and partners place in us. We see immense potential across all our businesses and continue to be encouraged by the deep connection our platforms have built with customers, surpassing 150 million users across CarWale, BikeWale, and OLX India reflects the scale and strength of our ecosystem. As we look ahead, were more committed than ever to harnessing the power of AI and product innovation to transform customer experiences and build the marketplace of the future. CarTrade Tech is a multi-channel auto platform with its presence across all vehicle types and value-added services. The platform operates under several brands: CarWale, CarTrade, Olx India, Shriram Automall, BikeWale, CarTrade Exchange and Adroit Auto. The scrip declined 1.40% to Rs 1,694 on the BSE.
