Online classifieds and auto marketplace platform CarTrade Technologies reported a six-fold increase in consolidated net profit at INR 30.72 crore for the second quarter ended Sep 30, 2024.

The company had posted net profit of INR 5.04 crore in the corresponding period of the last financial year.

Consolidated revenue from operations increased by 28% year-on-year to INR 154.2 crore last quarter, compared to INR 120.01 crore reported in the year-ago period. CarTrade Tech’s EBITDA (Earnings before interest, tax, depreciation and amortisation) last quarter grew by 54% to INR 32.70 crore, up from INR 21.18 crore in Q2FY24.

Vinay Sanghi, Chairman and Founder, CarTrade Tech, said, “We achieved the highest-ever quarterly revenue of Rs. 172 crores, marking a 27% growth year-over-year. This robust quarter-on-quarter performance has resulted in a 44% increase in profit before tax, underscoring the strength and leadership across all segments we operate in. Our results also reflect the operating leverage built into our model, driving a substantial increase in EBITDA by 54% and lifting our profit after tax to Rs. 31 crores this quarter."

For H1FY25, net profit rose over 189% year-on-year to INR 53.62 crore, from INR 18.55 crore in the first six months of last fiscal. For the first half of FY25, revenue surged over 43% to INR 295.38 crore, compared to ₹206.08 crore in the same period of the previous fiscal year. EBITDA more than doubled, increasing over 103% to INR 54.28 crore, compared to INR 26.65 crore a year ago.