CarTrade Tech (CTT) Shares Soar 14% Following a 50% YoY Increase in Q4 Net Profit
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- CarTrade Tech shares have seen a significant increase of 14% following a 50% surge in the company’s net profit for Q4 FY24.
- The automobile marketplace posted a net profit of ₹22.51 crore in the quarter ended March 2024, a substantial increase from ₹14.95 crore in the same quarter the previous year.
- CarTrade Tech’s Chairman and Founder, Vinay Sanghi, attributes this success to the acquisition of OLX India and the company’s focus on sustainable and profitable growth.
CarTrade Tech shares surge by 14% after the company reports a 50% increase in net profit for Q4 FY24, with a focus on sustainable growth and profitability in the future.
CarTrade Tech’s Impressive Q4 FY24 Performance
CarTrade Tech, a leading automobile marketplace, reported a net profit of ₹22.51 crore for the quarter ending March 2024. This represents a significant 50.5% increase from the ₹14.95 crore reported in the same quarter a year ago. The company’s shares rallied by as much as 14.02% to ₹855.00 apiece on the BSE following this announcement.
