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CarTrade Tech Q2 profit more than doubles, stock surges 13% to all-time high
https://img.etimg.com/thumb/msid-124868038,width-1200,height-630,imgsize-4352,overlay-etmarkets/articleshow.jpg Shares of CarTrade Tech surged as much as 13% on Tuesday to hit a 52-week high of Rs 3,008.95 on the BSE after the online auto reselling platform reported that its second-quarter profit more than doubled year-on-year, driven by robust revenue growth and stronger margins. The company’s…
Goldman Sachs' Rs 10,000 crore India portfolio: 4 stocks rally 50-155% in 1 year
https://img.etimg.com/thumb/msid-124268419,width-1200,height-630,imgsize-77182,overlay-etmarkets/articleshow.jpg Global investment giant Goldman Sachs is sitting on hefty gains from its India bets, with four of its portfolio companies delivering staggering returns of 50% to 155% over the past year. This comes even as Indian equities posted muted performance, weighed down by geopolitical…
The integration of intelligent systems and predictive algorithms into the Indian automotive industry is not just a trend but a necessity.
CarTrade Tech shares jump 17% on acquisition of OLX India’s auto business
Multi-channel auto platform CarTrade Tech’s shares jumped nearly 17% on the NSE in Tuesday’s trade after the company said it will acquire 100% stake in Sobek Auto India Private Limited from OLX India BV. The cost of acquisition of Sobek will be for a consideration of Rs 537.43 crore which is to be paid on the completion date of the acquisition, the company said in a filing to the exchanges. The…
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Revenue growth due to increase in auctions but One-time noncash charge affects the profits | CarTrade Tech Q2 FY22 Result Analysis
Revenue growth due to increase in auctions but One-time noncash charge affects the profits | CarTrade Tech Q2 FY22 Result Analysis
Financial Results Revenue from operations for the company stood at Rs. 78 crores in Q2FY22. When compared with 58 crores in Q2FY21, the company registered a YoY growth of 35%. On QoQ basis the growth stood at Rs. 46%.Other income for the company stood at Rs. 10.5 crores as compared to Rs. 6 crores in Q2FY21, a YoY growth of 75%.EBITDA for the company stood at a negative (-22.4) crores as…
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