CarWale parent CarTrade Tech profit jumps 106% YoY to Rs 47 crore in Q1FY26

Listed autotech company CarTrade Tech has reported its highest-ever quarterly revenue and profit for the first quarter of fiscal year 2026 (Q1FY26). 

The company’s revenue from operations rose 22% year-on-year to Rs 173 crore, while profit after tax (PAT) surged 106% to Rs 47.06 crore, according to unaudited financial results released Monday. Total income rose 27% year-on-year to Rs 198.50 crore.

The Navi Mumbai-based company, which operates digital platforms like CarWale, BikeWale, and OLX India, as well as physical locations under brands such as Shriram Automall and CarWale abSure, credited the performance to broad-based growth across its three core business segments: Consumer, Remarketing, and Classifieds.

The Consumer Group, which includes retail-facing platforms and services, posted a 32% year-on-year revenue increase and a 79% jump in PAT. Meanwhile, the Remarketing Business, which facilitates vehicle auctions and enterprise resale channels, grew revenue by 36% and PAT by an impressive 258%. OLX India, which was acquired in 2023, continued to deliver on integration synergies and scale advantages, recording a 71% rise in profits.

In operational terms, CarTrade’s remarketing business achieved an annualised run-rate of 1.4 million listings for auction.

CarTrade’s ecosystem of platforms attracted approximately 75 million average monthly unique visitors in the quarter, with 95% of the traffic being organic. Across its major portals, including OLX India, CarWale, and BikeWale, the company now caters to more than 150 million unique annual visitors each.

The company also reported strong operating leverage, with EBITDA rising 98% year-on-year to Rs 43.51 crore. Profit before tax stood at Rs 56.91 crore, marking a 132% increase from the same quarter last year.

Total expenses stood at Rs 141.6 crore in Q1 FY26, up modestly by 7%, even as employee benefit costs, its largest expense, grew just 7% to Rs 75.22 crore.

Vinay Sanghi, Chairman and Founder of CarTrade Tech, said, “This quarter’s performance, reflecting our highest ever in both revenue and profit, is a testament to the strength of our ecosystem and the efficiency of our platform-led model. The consistent growth across our Consumer, Remarketing, and OLX India businesses highlights the depth of our offerings and the trust we have built with customers and partners.”

He added that the company has recently intensified investments in artificial intelligence to enhance user experience, operational efficiency, and decision-making across its suite of digital products.