CarTrade Tech Limited, one of India’s largest online auto platforms today declared its standalone and consolidated financial results for the quarter and nine-month period ending December 31, 2021. The company reported a net loss of Rs18.48cr in Q3FY22 against a profit of Rs23.88cr in the same quarter last fiscal year.
Total Revenue for Q3FY22 stood at Rs102cr, as compared to Rs86cr in the same period last year. Adjusted Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) in Q3FY22 stood at Rs32cr and adjusted EBITDA margin % for Q3FY22 was 32%.
Total Revenue for the nine-month period ended December 31, 2021, stood at Rs253.07cr, showing a growth of 33%, as compared to Rs189.60cr in the same period last year. Adjusted Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) in the nine-month period ended December 31, 2021, stood at Rs65.29cr, showing a growth of 30% as compared to Rs50.17cr in the corresponding period. Adjusted EBITDA margin % stood at 26% for nine-month period ended December 31, 2021.
An exceptional and non-recurring, non-cash adjustment of Rs140cr for Employee stock options granted in FY21 has been accounted for, resulting in a Net loss after tax for nine-month period ended December 31, 2021 of Rs100cr (Net loss before tax of Rs97cr) as compared to a net profit after tax of Rs87cr (Net profit before tax of Rs27cr for nine month period ended December 31, 2020.
At around 3.10 pm, Cartrade Tech Ltd was trading at Rs721.70 per piece down by Rs46.3 or 6.03% from its previous closing of Rs768 per piece on the BSE.
Operational Highlights (Q3 FY22)
Vinay Sanghi, Founder and Chairman — CarTrade Tech said, “I am happy to inform our shareholders that our Q3FY22 total revenue stood at Rs102cr which is our highest ever for a quarter. Our revenue has grown by 33% compared to the nine-month period ended December 31, 2020 and in terms of adjusted EBITDA we have grown by 30%.
We had our highest ever auction listing in this quarter at 326,319, which helped cross the 1.3 million auction listing mark based on the Q3FY22 annualised numbers and we got 31 million average monthly unique visitors this quarter. We are continuing to digitalize the buying and selling journey for the consumer and our CarWale abSure offering is a step in this direction. We have 22 CarWale abSure outlets across 18 cities and we plan to have 200 outlets across the country in the next 2 years.”
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