CarTrade, one of India’s leading auto classifieds platforms, reported a robust financial performance in the fourth quarter of FY25, with consolidated profit after tax (PAT) soaring 85% year-on-year (YoY) to INR 46.1 crore. This impressive growth reflects the company’s expanding footprint in the automotive and multi-product classifieds space, driven by strong revenue growth and improved operational efficiency.
Q4 FY25 Financial Highlights: Profit and Revenue Growth
In the quarter ending March 2025, CarTrade’s revenue from operations climbed nearly 17% YoY to INR 169.5 crore, up from INR 145.3 crore in Q4 FY24. This growth was primarily fueled by a surge in the core consumer group business, which includes platforms like CarWale and BikeWale. However, on a sequential basis, revenue saw a slight dip of 4% compared to INR 176.2 crore in Q3 FY25.
Profit After Tax (PAT): INR 46.1 crore, up 85% YoY
Revenue from Operations: INR 169.5 crore, up 17% YoY
EBITDA: INR 47.1 crore, a 67% increase YoY
EBITDA Margin: Improved significantly to 27%, up 8 percentage points from 19% in Q4 FY24
Including other income of INR 19.9 crore, CarTrade’s total revenue for Q4 FY25 stood at INR 189.5 crore.
Multi-Platform Strategy Driving Growth and User Engagement
CarTrade’s diverse portfolio includes popular platforms such as CarWale, BikeWale, Android Auto, Mobility Outlook, Shriram Automall, and the recently acquired OLX India classifieds platform. The acquisition of OLX India in 2023 for INR 535.5 crore has been a strategic move, helping CarTrade diversify beyond automotive classifieds into multi-product classifieds.
Monthly Active Users and Ecosystem Expansion
The company reported an impressive 74 million monthly average unique visitors (MAUs) across its platforms in Q4 FY25, underscoring the scale of its digital ecosystem. Chairman and founder Vinay Sanghi highlighted that FY25 was a landmark year, with the company surpassing 150 million users across CarWale, BikeWale, and OLX India combined.
Revenue Breakdown: Core Business and New Ventures
Core Consumer Group Business: Revenue grew 30% YoY to INR 63.6 crore, driven by pre-owned car sales on CarWale and two-wheeler sales on BikeWale. However, this segment saw a 6% sequential decline from INR 68 crore in Q3 FY25.
Remarketing Business: Revenue increased 11% YoY to INR 58.7 crore, remaining flat sequentially.
OLX India: The multi-product classifieds platform contributed INR 47.7 crore in revenue, up 10% YoY but down 4% QoQ.
CarTrade generates revenue through listing fees, transaction commissions, and technology-enabled services such as dealer management and auto financing solutions.
Cost Management Boosts Profit Margins
CarTrade’s ability to control expenses played a crucial role in its profitability. Total expenses increased modestly by 5% YoY to INR 123.3 crore, while sequentially they declined by 2%.
Employee Cost: Increased 6% YoY to INR 70.8 crore but decreased 3% QoQ.
Other Expenses: Rose 3% YoY to INR 52.6 crore and fell 2% QoQ.
This disciplined cost management helped improve EBITDA margins by 8 percentage points, reflecting operational efficiency gains.
FY25: A Record-Breaking Year for CarTrade
For the full fiscal year 2024-25, CarTrade posted its highest-ever profit and revenue:
Annual PAT: INR 145.3 crore, up a staggering 627% YoY
Operating Revenue: INR 641.1 crore, up 31% YoY
Vinay Sanghi expressed optimism about the future, stating, “FY25 has been a landmark year for CarTrade Tech – the highest revenue, the highest profit, and a clear demonstration of the power of our multi-platform strategy. Surpassing 150 million users across CarWale, BikeWale, and OLX India reflects the scale and strength of our ecosystem. The best is yet to come.”
Market Reaction and Future Outlook
Following the Q4 earnings announcement, CarTrade’s shares closed 2.56% lower at INR 1,674.10 on the BSE, reflecting market volatility despite strong fundamentals.
Looking ahead, CarTrade is well-positioned to capitalize on India’s growing demand for used and new vehicles, digital classifieds, and tech-enabled automotive services. The company’s multi-platform approach and strategic acquisitions provide a competitive edge in a rapidly evolving market.
Conclusion: CarTrade’s Growth Story Accelerates
CarTrade’s stellar Q4 and FY25 performance underscore its leadership in India’s automotive classifieds and digital marketplace sector. With robust revenue growth, improved profitability, and a rapidly expanding user base, CarTrade is set to continue its upward trajectory in the Indian startup ecosystem.