CarTrade Tech reports its highest ever quarterly revenue at Rs. 115.86 crores and highest ever quarterly adjusted EBITDA at Rs. 36.60 crores for Q3 FY 23

Key Highlights:

• Increase in revenue by 23% Y-O-Y as compared to nine-month period ended December 31, 2021. Recorded highest-ever quarterly revenue at Rs. 115.86 crores in Q3 FY 23
• Adjusted EBITDA for the nine-month period ended December 31, 2022, is at Rs. 85.08 crores resulting in a Y-O-Y growth of 30%. Recorded highest-ever quarterly Adjusted EBITDA at Rs.36.60 crores in Q3 FY23
• Adjusted PAT for the nine-month period ended December 31, 2022, stood at Rs. 51.90 crores with Y-O-Y growth of 43%. For Q3 FY 23, the adjusted PAT stood at Rs. 24.05 crores.
• PAT for the nine-month period ended December 31, 2022, stood at Rs. 22.94 crores. For Q3 FY 23, the PAT stood at Rs. 14.05 crores.

Consolidated results for December 31, 2022 FY23

Operational Highlights

• CarTrade Tech received 35 million average monthly unique visitors for Q3 FY23, of which 88% was organic
• The number of listings for auction was 2,68,506 for Q3 FY23
• The volumes sold via auctions were 59,202 in Q3 FY23
• As of December 31, 2022, the company had a network of 73 CarWale abSure outlets in 33 cities

Commenting on the company’s performance, Mr. Vinay Sanghi, Chairman, and Founder, CarTrade Tech, said, “In Q3 FY 23, we had our highest ever quarterly revenue at Rs. 115.86 crores and highest ever quarterly adjusted EBITDA at Rs. 36.60 crores. In the nine-month period ended December 31, 2022, on a consolidated basis, the company reported Rs. 311 crores of revenues, registering a 23% Y-O-Y growth. Our Adjusted EBITDA growth of 30% in the nine-month period outpaced our revenue growth, as we run an asset-light and scalable business model. We are one of the few profitable Internet companies and our PAT for the three-month period ended December 31, 2022, stood at Rs 14.05 crores.

Our profitable business model and surplus liquidity of over Rs. 1,000 crores will allow us to invest in widening our offerings towards providing a seamless Phygital experience to all our users.”