Cartrade Tech Reports Strong PAT Growth Amid Rising Interest Expenses and Non-Operating Income Concerns

Cartrade Tech, a midcap player in the IT software industry, has released its financial results for the quarter ending March 2025. The company has reported a notable performance, particularly in its Profit After Tax (PAT), which reached Rs 84.51 crore, reflecting a significant year-on-year growth of 145.61%. This positive trend in PAT indicates a strong operational performance over the past six months.
Additionally, the Profit Before Tax (PBT) for the latest quarter stood at Rs 33.38 crore, marking a growth of 72.9% compared to the average PBT of the previous four quarters. Net sales also demonstrated a positive trajectory, amounting to Rs 345.73 crore, which represents a year-on-year growth of 21.79%.

However, there are areas of concern for Cartrade Tech. The interest expense has risen to Rs 8.99 crore, showing a growth of 21.49% over the preceding nine months, suggesting increased borrowings. Furthermore, non-operating income constituted 37.41% of the PBT, with the latest quarterly figure reaching Rs 19.95 crore, the highest in five quarters. This reliance on non-business income raises questions about the sustainability of the company's financial model.

In light of these developments, Cartrade Tech has experienced an adjustment in its evaluation, with its score reflecting recent changes.

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