CarWale, BikeWale, and OLX India — all subsidiaries of India-based auto marketplace operator CarTrade Tech — have each clocked 150 million annual unique users, according to the company’s press release. It added that “more than 90% of the traffic” was organically generated.
“The surge in user engagement has been instrumental in driving strong revenue growth for the company,” it noted.
In October — a festive period in India — CarTrade announced that its consumer verticals — CarWale and BikeWale — had achieved an all-time high in monthly unique users, up 36% year on year.
CarTrade added that “strong operating margins” would see profit after tax (PAT) grow by around 25-30% quarter on quarter in the three months to December (Q3 FY2025). In the previous quarter, PAT stood at INR307 million ($3.6 million U.S.).
“Our asset-light approach, combined with organic growth strategies, has enabled us to achieve remarkable profitability while staying true to our mission of innovation and customer satisfaction. We are excited to build on this momentum and drive further growth across our businesses,” said Aneesha Bhandary, CFO of CarTrade Tech.
Founded in 2009, CarTrade Tech Group also operates Shriram Automall, BikeWale, CarTrade Exchange, and Adroit Auto. The MD and CEO of OLX India — a general marketplace acquired by CarTrade in August — is set to depart the company next month.
