India-based used-car marketplace CarTrade Tech has posted INR6.4 billion ($75.1 million U.S.) in consolidated operating revenue for the 12 months to March 2025 (FY24-25), up 30.8% year on year (y-o-y).
According to the company’s financial reporting, this growth was driven by all three of its segments — consumer, remarketing and classifieds (OLX India). CarTrade’s total income for FY24-25 was INR7.1 billion.
The consumer vertical — comprising CarWale and BikeWale — generated revenue of INR2.3 billion in FY24-25.
The company’s auction site CarTrade Exchange and OLX India — the latter was acquired in August 2023 — (the remarketing vertical) brought in INR2.1 billion and INR1.9 billion in revenue, respectively.
CarTrade’s total expenses grew by 18.7% y-o-y to INR5.4 billion, with employee benefits accounting for over 50% of the total.
In FY24-25, CarTrade’s after-tax profit (PAT) from “continuing operations” grew by 76% y-o-y to INR1.4 billion ($17.0 million) — excluding the previous year’s loss of INR621 million from OLX India’s asset-heavy transactions business, which has since been disbanded.
OLX India’s profit in FY24-25 grew by 72% y-o-y to INR525 million. It closed FY24-25 with a cash balance of INR9.5 billion.
Vinay Sanghi, founder and chairman of CarTrade Tech, said: “We’ve delivered consistent, profitable growth, driven by execution excellence, technology innovation and the unmatched trust our users and partners place in us. As we look ahead, we’re more committed than ever to harnessing the power of AI and product innovation to transform customer experiences and build the marketplace of the future.”
As is customary following financial disclosures, CarTrade expanded its ESOP [employee stock ownership plan] pool by allotting 41,200 equity shares with a face value of INR10 apiece. Post allotment, the company’s paid-up share capital grew to INR474 million.
Founded in 2009, CarTrade Tech has more than 500 brick-and-mortar locations nationwide through its Shriram Automall stores, CarWale AbSure outlets and OLX India franchises.
