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E Commerce

CarTrade Returns To Black With INR 45.5 Cr Q3 Profit


SUMMARY

CarTrade posted a consolidated net profit of INR 45.53 Cr in Q3 FY25 against a loss of INR 23.55 Cr in the year-ago quarter

On a quarter-on-quarter basis, net profit zoomed 48% from INR 30.72 Cr

Operating revenue surged 27% to INR 176.21 Cr during the quarter under review from INR 138.58 Cr in Q3 FY24.

Online classifieds and auto auction platform CarTrade posted a consolidated net profit of INR 45.53 Cr in the third quarter of the financial year 2024-25 (Q3 FY25) against a loss of INR 23.55 Cr in the year-ago…



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by Tech In Asia

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SUMMARY The due diligence is done, and both sides are negotiating final terms for the cash and equity transaction If the deal closes, it will mark one of the biggest consolidation in India’s auto tech sector Notably, CarDekho entered the unicorn club in October 2021 after raising $250 Mn at a $1.2 Bn valuation. It, however, shut down its used-car retail business in 2023 after high operating costs made it unviable Listed auto marketplace CarTrade is reportedly in advanced stages to acquire rival CarDekho in a deal valued at… Source link

by INC42

From a brand known for its cool urban image and setting the Indian craft brewery benchmark, Bira 91’s survival hangs by a thread.  The startup, which has raised more than $200 Mn in funding to date from investors such as Peak XV Partners, Sofina, and Kirin Holdings, among others, is struggling to move past the slowdown that hit its business last year.   At the centre of the storm are 600 employees, the investors, and Ankur Jain, the CEO and founder of B9 Beverages Ltd, Bira 91’s parent company.  Jain is under pressure to step down… Source link