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Stock Report
CarTrade Tech sees a 33% Growth in Revenue YOY
Posted On : 2022-01-25 22:42:50( TIMEZONE : IST )
CarTrade Tech Limited, one of India's largest online auto platforms today declared its standalone and consolidated financial results for the quarter and nine month period ending December 31, 2021.
Consolidated results
Total Revenue for the nine month period ended December 31, 2021 stood at Rs. 253.07 crores, showing a growth of 33%, as compared to Rs. 189.60 crores in the same period last year. Adjusted Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in nine month period ended December 31, 2021 stood at Rs. 65.29 crores, showing a growth of 30% as compared to Rs 50.17 crores in the corresponding period. Adjusted EBITDA margin % stood at 26% for nine month period ended December 31, 2021.
Total Revenue for Q3 FY22 stood at Rs. 102 crores, as compared to Rs. 86 crores in the same period last year. Adjusted Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q3 FY22 stood at Rs. 32 crores and adjusted EBITDA margin % for Q3 FY22 was 32%.
An exceptional and non-recurring, non-cash adjustment of Rs. 140 crores for Employee stock options granted in FY21 has been accounted for, resulting in a Net loss after tax for nine month period ended December 31, 2021 of Rs. 100 crores (Net loss before tax of Rs. 97 crores) as compared to a net profit after tax of Rs. 87 crores (Net profit before tax of Rs 27 crores) for nine month period ended December 31, 2020.
Operational Highlights (Q3 FY22)
CarTrade Tech received 31 mn average monthly unique visitors for Q3FY22, of which 86.20% was organic.
The number of listings for auction were 326,319 for Q3FY22. This was a growth of over 53 % over Q3FY21.
The volumes sold via auction were 72,639 for Q3FY22. This was a growth of over 60 % over Q3FY21.
CarWale abSure will deliver a world class online offline shopping experience for used car buyers and sellers. As on December 31st, 2021, there are 22 CarWale abSure outlets present in 18 cities.
Commenting on the performance of the company Mr. Vinay Sanghi, Founder and Chairman - CarTrade Tech said, "I am happy to inform our shareholders that our Q3FY22 total revenue stood at Rs 102 crores which is our highest ever for a quarter. Our revenue has grown by 33% compared to the nine month period ended December 31, 2020 and in terms of adjusted EBITDA we have grown by 30%. We had our highest ever auction listing in this quarter at 326,319, which helped cross the 1.3 million auction listing mark based on the Q3FY22 annualised numbers and we got 31 million average monthly unique visitors this quarter. We are continuing to digitalize the buying and selling journey for the consumer and our CarWale abSure offering is a step in this direction. We have 22 CarWale abSure outlets across 18 cities and we plan to have 200 outlets across the country in the next 2 years."
Shares of CarTrade Tech Ltd was last trading in BSE at Rs. 721.70 as compared to the previous close of Rs. 768.00. The total number of shares traded during the day was 45204 in over 5097 trades.
The stock hit an intraday high of Rs. 775.00 and intraday low of 703.90. The net turnover during the day was Rs. 33029434.00.
