InvestorQ : Why have the shares of CarTrade fallen so sharply on Friday 29 October?
Archita Jajjoo made post

Why have the shares of CarTrade fallen so sharply on Friday 29 October?

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Niti Shenoi answered.
2 months ago
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CarTrade Tech stock dropped 7% to Rs.1,153 after the company reported a net loss for the second straight quarter of the current FY22. CarTrade Tech, which had recently come out with an IPO, operates online platforms for buying and selling of cars. The IPO of the stock was at Rs.1,618, so effectively the stock is a full 30% down from the IPO price levels and is at its lowest since the time of the IPO.

For the Sep-21 quarter, CarTrade Tech reported net loss of Rs.35.35 crore while it had reported a small profit of Rs.10.9 crore in the Sep-20 quarter. The net loss for the first half of the year came in at Rs.81.5 crore. Total revenues in the quarter were up 46% at Rs.151 crore. However, the good news is that the EBITDA doubled on a yoy basis to Rs.33 crore. Macro numbers were still quite impressive with 34 million unique visitors.

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