HomeStock MarketCarTrade Posts INR 23.55 Cr Loss In Q3, Including OLX Auto Business

CarTrade Posts INR 23.55 Cr Loss In Q3, Including OLX Auto Business

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  1. CarTrade Technologies recorded a net loss of INR 23.5 crore in the December quarter of FY23-24.
  2. Excluding the discontinued operations of the auto sales division of OLX, CarTrade posted a net profit of INR 21.96 crore.
  3. This represents a significant growth of 56% from the net profit of INR 14.04 crore reported in the same period of the previous fiscal year.
  4. Operating revenue surged by over 42% to INR 138.6 crore in Q3 FY24 from INR 97.2 crore in the corresponding quarter of the prior year.
  5. CarTrade Technologies acquired a 100% stake in Sobek Auto India last year and subsequently shut down the C2B operations of the auto transaction business of OLX in October due to unit economics challenges.
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