However, CarTrade Tech Managing CarTrade Tech’s share price soared 14% during the afternoon session today after the company surprised investors with its solid financial results. The e-retail company’s net profits were elevated by 50% for the quarter ending 31 March 2024.
But rivalry boosted the price, i.e., profit rose to Rs 22. There is a 90% increase in the net profit from the Rs 15 crore previously reported in the year-on-year figure. Edging to the point, the company’s revenue revealed an exciting rise of 51%. Undefined Interestingly, our company had witnessed a massive growth in the sales revenue during Q4, a $3 million increase compared to the $96 million revenue we had in the previous year.
Such a business model of CarTrade Tech is implemented across the automotive digital ecosystem, which covers all stakeholders ranging from automobile customers to OEMs, dealers to banks, and insurance companies. The company’s sales growth would seem to result from high-value listings published through its classifieds segment. The consolidated EBITDA of CarTrade Tech scaled up by 23% and stood at Rs 49 during the analysis period. 11 crore exceeds the previous year, where the margins on EBITDA grew to 18% and 9%.
Author at JM Financial saying that the environment around the business benefits the company and provides a potential that is meant to expand the margins which are significant. Therefore, they held the ‘buy’ rating on the stock and set a target price of Rs 1,000 by March 2025, reflecting a discovery of as much as 23% in its operating capacity. The only two scenarios that can ease this pressure are either a sharp correction in the equity markets or a sharp uptick in the gold commodity price, which allows gold to play safe.
CarTrade Tech has been the most striking example of significant growth within the industry and has scored stupendous marks by overtaking Nifty 50 by a wide margin, delivering a mammoth growth of approximately 110% over the past year. This trend is captured in the stock’s increase to 20% year-to-date, which has attracted the attention of the wider investor community to its promising outlook.
