India's Cartrade Tech jumps 10% on Q4 profit

CarTrade Tech

28/04/2023 07:47

** Shares of Cartrade Tech Ltd  CART.NS  rise as much as
10.24%, most intraday gains in over 10 months, to 444 rupees
    ** Multi-channel auto platform company reports consolidated
net profit of 149.6 mln rupees in March quarter compared to a
loss of 256.7 mln rupees YoY, aided by falling employee benefit
costs
    ** Revenue rises 3% YoY to 958.6 mln rupees
    ** Core profit rises to 117.77 mln rupees in Q4, CART had
reported an operational loss of 259.33 mln rupees in the
corresponding quarter a year ago
    ** Stock is most active in two months, with the trading
volume at 801,121 shares as of 12:13 p.m. IST, nearly seven
times the 30-day avg of 118,719 shares - Refinitiv data
    ** Of the six analysts tracking CART, five maintain "buy"
and one suggests "sell"; median TP is 705 rupees 




 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))