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India’s auto platform CarTrade shares jump 18% on profit
On Jan. 29, shares of CarTrade Technology increased by 18.65% to 1,624.20 rupees (US$18.76) on the Bombay Stock Exchange (BSE).
This rise followed the company’s announcement of a return to profitability in the third quarter of fiscal year 2024-25 (Q3 FY25).
The auto auction and online classifieds platform reported a consolidated net profit of 45.53 crore rupees (US$5.26 million) for the December quarter, a sharp turnaround from the 23.55 crore rupees (US$2.72 million) loss in the same period last year.
The company’s stock, which struggled post-initial public offering (IPO) in 2021, has rebounded strongly, gaining over 54% in six months.
Founded in 2009, CarTrade operates brands such as CarWale, BikeWale, and Shriram Automall.
It competes with platforms like CarDekho and CARS24 in India’s automotive classifieds market.
Recent CarTrade developments
| Timeline |
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30-Jan-2025 📊 Indian automobile marketplace CarTrade reports $5.26m profit
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27-Dec-2024 📈 India’s CarTrade stock hits 52-week high with 123% gain
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20-Aug-2021 📉 Indian automobile marketplace CarTrade raises $403m in IPO
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12-May-2021 🚗 Sources: Indian auto marketplace CarTrade to file for $272m IPO
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