CarTrade Tech (CARTRADE) Q3 25/26 earnings summary

Executive summary

• Achieved record quarterly revenue of INR 228 crore (₹20,967.18 lakhs), up 18% year-over-year, with all business segments posting their highest-ever revenue and profits, and record margins reflecting consistent execution and operational leverage.

• 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; excluding a one-time Labour Code provision of INR 6.5 crore, PAT was INR 68 crore.

• Cash reserves reached INR 1,145 crore, with robust cash generation of INR 101 crore in the quarter and no significant CapEx needs.

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

Financial highlights

• Revenue grew 18% year-over-year and 19% sequentially; EBITDA rose 56% year-over-year to INR 78 crore, with margins expanding to 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 revenue increased 24%, EBITDA up 77%, and PAT up 74%, with nine-month margins at 32%.

• EPS CAGR over three years reached 92%, and share price CAGR was 94%.

• Adjusted EBITDA for Q3 FY26 was INR 101 crore.

Outlook and guidance

• Management remains highly optimistic about sustaining or improving growth rates across all segments, citing strong industry tailwinds and digital adoption.

• Guidance indicates further margin expansion and revenue growth, especially in OLX and consumer businesses.

• Continued focus on margin expansion and profitable growth across all business segments.

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