CarTrade Tech (CARTRADE) Q3 25/26 earnings summary

Executive summary

• Achieved record quarterly revenue of INR 228 crore (₹22,800 lakhs), up 18% year-over-year, with all business segments posting their highest-ever revenue and profits, and record margins maintained over the last three years.

• EBITDA rose 56% year-over-year to INR 78 crore, with a margin of 37% in Q3 FY26.

• Profit after tax reached INR 62 crore, up 35% year-over-year; adjusted PAT was INR 68 crore, up 49%, impacted by a one-time Labour Code provision.

• Platforms reached over 150 million users, with 85 million monthly active users and 100 million+ app downloads.

• Board approved unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025, and a postal ballot for increasing the remuneration of the Executive Director and CFO.

Financial highlights

• Revenue grew 18% year-over-year to INR 228 crore (₹22,800 lakhs); EBITDA rose 56% year-over-year to INR 78 crore, with a margin of 37%.

• PAT for the quarter was INR 62 crore, up 35% year-over-year, impacted by a one-time Labour Code provision of INR 6.5 crore; adjusted PAT would be INR 68 crore.

• Nine-month results: revenue up 24%, EBITDA up 77%, margins at 32%, and PAT up 74%.

• Adjusted EBITDA reached INR 101 crore, marking the first time above INR 100 crore in a quarter.

• Cash reserves reached INR 1,145 crore, with zero debt and strong quarterly cash generation.

Outlook and guidance

• Management remains highly optimistic about sustaining or improving current growth rates across all business segments, with expectations for further margin expansion and strong performance in the next quarter.

• OLX and consumer group expected to see higher growth rates and margin improvements, with stable cost structures.

• Management continues to monitor regulatory developments regarding Labour Codes and will adjust accounting as needed.