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Revenue
₹210 Cr
verified against source
Revenue YoY
18%
reported change
EBITDA
₹78 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
CarTrade Tech delivered a record quarter with ₹228 crore revenue (highest ever), 78 crore EBITDA (up 56% YoY), and 37% EBITDA margin (+900bps YoY). PAT came in at 62 crore (up 35% YoY), impacted by a one-time labor code provision of ₹6.5 crore. All three segments—Consumer, Remarketing, and OLX—posted record revenues and margins. Growth was driven by strong new car industry tailwinds, market share gains, and stable cost structures. Management expects further margin expansion and higher OLX growth rates in Q4, aided by new products like Elite Buyer and verification services. Key risk: used car pricing adjustment lag from GST cuts could temporarily dampen remarketing volumes.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects OLX revenue growth rate to increase from 18% in Q3, driven by new products like Elite Buyer and verification services.
- Management expects EBITDA margins to continue improving as revenue grows with stable costs, targeting best-in-class levels.
- OLX plans to launch marketplace-based used car financing products in partnership with banks and NBFCs in the next few quarters.
Risks flagged
- GST reduction on new cars caused used car prices to correct with a lag, temporarily impacting remarketing conversion rates.
- Analyst raised concern that LLMs could reduce site visits; management argued deep integration and proprietary data provide a moat.
- Management decided to pause the CarDekho acquisition, citing high internal growth opportunities; diligence costs impacted Q3.
Key quotes
- We've reached 37% margin which is getting best-in-class in the country now and it shows the unit economics and the leverage we have in our business.
- We think margins will probably improve honestly... if revenue goes up, margin will improve as we've said quarter after quarter in all our businesses.
- We feel that all of this data which we've got of consumer or products or price gives us a differentiated advantage on the AI front to help serve our customers better.
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