CarTrade Shares Surge 9% After Company Reports Profit in Q3

CarTrade Shares Surge 9% After Company Reports Profit in Q3

Shares of CarTrade Tech jumped nearly 9% after the company reported a net profit of Rs 43 crore in Q3, marking a strong turnaround from the Rs 24 crore loss it posted in the same quarter last year. The company achieved profitability despite incurring a one-time loss of Rs 46 crore in the December quarter.

At 11:48 am, CarTrade Tech shares traded at Rs 1,465.75 on NSE.

The company also saw a 27% year-on-year increase in revenue to Rs 176.2 crore from Rs 139 crore in the corresponding quarter of the previous fiscal. Improvement in operational performance further fortified the financials of the company, with the EBITDA margin expanding 1,000 basis points to 28.4% from 18.4% a year ago.

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Source: Moneycontrol

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