CarTrade Share Price Drop 5.78% After Hitting 52-Week High Recently

CarTrade Tech Ltd was in focus on Monday. On December 23, 2024, CarTrade share price opened at ₹1,570.00, down from its previous close of ₹1,616.00. At 10:46 AM, the share price of CarTrade Tech was trading at ₹1,522.55, down by 5.78% on the NSE. Notably, the stock touched its 52-week high on December 20, 2024, at ₹1,650.00.

Recent Developments

Earlier this month, in December, CarTrade Tech announced that it has achieved a significant milestone with its platforms, CarWale, BikeWale, and OLX India, each surpassing 150 million yearly unique users. Over 90% of the traffic to these platforms is organic, highlighting the strong performance and market leadership of CarTrade Tech in the automotive ecosystem. This growth has driven notable revenue increases, further solidifying the company’s position as a leader in the industry.

The ongoing festive season has contributed to this robust performance, with a marked rise in user engagement. The company’s asset-light business model continues to differentiate it, ensuring consistent profitability.

As a result, CarTrade Tech anticipates a 25-30% growth in Profit After Tax (PAT) for Q3 FY25 compared to the previous quarter (Q2 FY25). This growth is supported by the company’s strong operating margins, further demonstrating its operational efficiency and the effectiveness of its market strategies.

About CarTrade Tech Limited

CarTrade Tech Ltd is a comprehensive multi-channel automotive platform that spans various vehicle types and value-added services. The company operates several brands, including CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto, and AutoBiz. These platforms connect customers, vehicle dealers, OEMs, and other businesses, facilitating the buying and selling of both new and used vehicles.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.