CARTRADE · Consumer Services
No check fired. That is a statement about the checks below, not a verdict on the company.
Core profit grew faster than reported profit: one-offs held the headline down.
Reported profit +104.3% on the year; profit before other income, exceptional items and tax +255.6%.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹120 cr | ₹139 cr | ₹145 cr | ₹142 cr | ₹154 cr | ₹176 cr | ₹170 cr | ₹173 cr | ₹193 cr | ₹210 cr | ₹203 cr | ₹201 cr |
| YoY | — | — | — | +65% | +28% | +27% | +17% | +22% | +25% | +19% | +19% | +16% |
| EBITDA margin | 17.5% | 18.0% | 18.6% | 15.5% | 21.4% | 28.4% | 27.1% | 25.4% | 33.2% | 37.1% | 35.5% | 31.3% |
| Other income, % of PBT | −25% | — | 55% | 63% | 49% | 32% | 38% | 44% | 36% | 15% | 24% | 35% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 34% | — | 20% | 7% | 17% | 15% | 14% | 17% | 20% | 21% | 6% | 24% |
| Net profit | ₹5.0 cr | −₹24.0 cr | ₹25.0 cr | ₹23.0 cr | ₹31.0 cr | ₹46.0 cr | ₹46.0 cr | ₹47.0 cr | ₹64.0 cr | ₹62.0 cr | ₹71.0 cr | ₹57.0 cr |
| YoY | — | — | — | +64% | +520% | — | +84% | +104% | +106% | +35% | +54% | +21% |
| Core profit YoY | — | — | — | — | +90% | +177% | +136% | +256% | +168% | +83% | +73% | +53% |
| EPS | ₹0.64 | −₹5.17 | ₹4.80 | ₹4.72 | ₹5.89 | ₹9.01 | ₹8.82 | ₹9.03 | ₹12.53 | ₹11.68 | ₹13.49 | ₹10.67 |
| Flags | · | · | 1 | 2 | 2 | 1 | ✓ | ✓ | 1 | 1 | 1 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Cartrade Tech Ltd. reported revenue of ₹173 cr (+21.8% on the year) and net profit of ₹47.0 cr (+104.3% on the year) for April to June 2025.
Profit before other income, exceptional items and tax moved +255.6% on the year, against +104.3% for reported profit.
None of the 7 checks that could run raised a question.
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