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CarTrade Tech reports a 47% Y-O-Y Growth in Revenue & PAT of Rs. 3.3 crore for Q1 FY23

MUMBAI, India, July 29, 2022 /PRNewswire/ — CarTrade Tech Limited, one of India’s largest online auto platforms, announced its unaudited financial results for the quarter ended June 30, 2022, today. The Company reported its quarterly revenue of Rs. 92.8 crore in Q1 FY23.

CarTrade Tech Limited Logo

Key Highlights:

  • Increase in revenue by 47% Y-O-Y as compared to Q1 FY22
  • Adjusted EBITDA for the quarter is at Rs. 17.7 crore resulting in a Y-O-Y growth of 108%
  • Adjusted PAT for the quarter ended Jun 30, 2022, is Rs. 8.6 crore
  • PAT for the quarter ended June 30, 2022, is Rs. 3.3 crore

Consolidated results for the quarter ended June 30, 2022

The company reported a total revenue of Rs. 92.8 crore, for Q1 FY23, a growth of 47% as compared to Rs. 63 crore in Q1 FY22. Adjusted EBITDA grew by 108% Y-O-Y from Rs. 8.5 crore to Rs. 17.7 crore, resulting in a 20% Adjusted EBITDA Margin for the quarter ended June 30, 2022. Adjusted PAT (PAT adjusted for ESOP and deferred tax) for the quarter ended June 30, 2022, stood at Rs. 8.6 crore.

A non-cash adjustment of Rs. 5.3 crore for Employee Stock Options has been accounted for in Q1 FY23, resulting in a net profit after tax for the quarter ended June 30, 2022, of Rs. 3.3 crore.

Operational Highlights

  • 31 million average monthly unique visitors for Q1 FY23, of which 84.7% were organic
  • The number of listings for auction was 2,72,275 for Q1 FY23
  • The volumes sold via auctions were 57,710 in Q1 FY23
  • CarWale abSure delivers a world-class online-offline shopping experience for used car buyers and sellers. As of June 30, 2022, the company had a network of 57 CarWale abSure outlets in 34 cities

Commenting on the company’s performance, Mr. Vinay Sanghi, Chairman and Founder, CarTrade Tech, said, “I am happy to report a strong performance for the quarter with a 47% Y-O-Y growth in revenue and a PAT of Rs. 3.3 crore. Our Adjusted EBITDA during the quarter registered a sharp growth of 108% as compared to the corresponding quarter in the previous year. This growth reflects our focused approach to operational efficiencies and profitability.

“The strength of our brand and its high brand recall value is evident in our large average monthly unique visitor base of 31 million of which 84.7% is organic. Our auction listings grew Y-O-Y by 28%.

“CarWale abSure will continue to lead innovation in the used car space to make the customer journey memorable and satisfying. We currently have 57 CarWale abSure outlets and plan to have over 120 outlets in the current financial year.”

About CarTrade Tech Limited: (www.cartradetech.com); (NSE:CARTRADE) (BSE:543333)

CarTrade Tech Ltd. is a multi-channel auto platform with a presence across vehicle types and value-added services. The platform got 31 million average monthly unique visitors (Q1 FY23) and based on Q1 FY23 annualized numbers has 1.1 mn listings for auction. The platform operates under several brands: CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz. These platforms enable new and used automobile customers, vehicle dealerships, Vehicle OEMs and other businesses to buy and sell vehicles in a simple and efficient manner.

For More Information, Please Contact:

COMPANY:

CIN: L74900MH2000PLC126237

Email: investor@cartrade.com I T: +912267398888

INVESTOR RELATIONS ADVISOR:

Strategic Growth Advisors Pvt Ltd.

CIN: U74140MH2010PTC204285

Shikha Puri / Aakash Mehta

Email: shikha.puri@sgapl.net/ aakash.mehta@sgapl.net

T: +91 98192 82743/ +91 98191 78243

For media queries contact:

Communicate India: 

Natasha D’souza +91 98673 88748 | natasha.d@communicateindia.com

Manish Kadam +91 +91 93242 86677 | manish.kadam@communicateindia.com

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Reliance Digital Introduces High-Performance iQOO 15R to its Nationwide Store Network

MUMBAI, India, March 11, 2026 /PRNewswire/ — Reliance Digital announces the offline retail availability of iQOO, the high-performance smartphone brand built for today’s youth and tech-forward consumers. Following strong traction in online channels, iQOO is now extending its presence into physical retail, allowing customers to experience and purchase its devices first-hand at Reliance Digital stores across India.

Known for pushing the boundaries of speed, and power, the iQOO 15R is powered by the Snapdragon 8 Gen 5, delivering exceptional speed, responsiveness, and sustained performance throughout the day. It packs iQOO’s biggest battery yet in an ultra-slim 7.90mm design, making it India’s slimmest smartphone with a 7600 mAh battery.

The device features a 6.5K IceCore VC Cooling Chamber for stable performance and runs on OriginOS 6.0 based on Android 16 out of the box, supported by 4 years of software updates and 6 years of security updates. It is also equipped with a Sony LYT-700V OIS camera, a 1.5K 144Hz AMOLED EyeCare display, and IP68 & IP69 dust and water resistance, making it a dependable daily partner for professionals on the go.

The brand’s offline expansion marks an important step in deepening consumer engagement by offering hands-on access to its devices, enabling customers to explore iQOO’s powerful performance, advanced display technology, and flagship-grade camera capabilities in a real-world retail environment.

The availability of iQOO at Reliance Digital brings together two brands driven by innovation and consumer experience. While iQOO continues to build its reputation as a performance-led smartphone brand, Reliance Digital strengthens its portfolio by offering customers access to cutting-edge technology brands through its extensive nationwide retail network.

Through engaging in-store experiences, knowledgeable staff, and immersive product demonstrations, Reliance Digital aims to help consumers better understand iQOO’s performance-first DNA. This move further reinforces Reliance Digital’s commitment to staying ahead of evolving consumer preferences and serving as a preferred destination for discovering new-age technology.

With this expansion, Reliance Digital continues to play a key role in shaping India’s consumer electronics landscape by bringing future-ready brands closer to customers, while enabling smartphone brands like iQOO to build stronger connections with a growing, performance-driven audience.

The all new iQOO 15R is now available at Reliance Digital stores nationwide.

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Kotak Alts announces winner of the inaugural Katalyst Awards

Ms Himani Choudhary named Katalyst for the year – India’s Best Financial Content Creator; wins Rs. 25 Lakhs

MUMBAI, India, March 10, 2026 /PRNewswire/ — Kotak Katalyst Awards, a national initiative instituted to recognise excellence and responsibility in financial content creation has announced the winner of its first Katalyst edition. Kotak Alternate Asset Managers Limited (“Kotak Alts”) today announced Himani Choudhary as the winner. The winner was awarded a prize of INR 25 Lakhs, positioning Katalyst among the most meaningful recognitions for financial content creators in India.

Srini Sriniwasan, Managing Director, Kotak Alts, said, “The Kotak Alts Katalyst Awards were instituted to recognize content creators who are contributing meaningfully to financial literacy in India. As investor participation deepens, audiences are seeking clarity, context, and credibility. The response from creators was overwhelming and points to the new generation of financial educators.  As the inaugural winner Ms. Himani Chaudhary, exemplifies the standard of financial communication that Katalyst seeks to encourage.”

The first edition of the Kotak Alts Katalyst Awards received over six hundred entries from across 19 states and in 8 languages, reflecting the growing role of digital creators in shaping financial awareness. Conceived in response to increasing clutter and misinformation in the financial ecosystem, Katalyst is designed to recognize creators who place accuracy, transparency, and investor interest at the core of their work.

The winning content, ‘Personal Finance & Major Finance Updates’ by Himani Choudhary, was recognised for its clarity, originality, and credibility. The jury noted the content’s ability to explain complex financial concepts in a clear and measured manner, supported by strong research and a consistent focus on investor education over virality.

To ensure a robust and transparent evaluation process, the awards framework was designed and audited by EY. The top thirty entries were assessed by an academic jury.

The top 10 finalists were subsequently evaluated by a grand jury comprising Kunal Shah, Founder and CEO of CRED; Radhika Gupta, Managing Director and CEO of Edelweiss Mutual Fund; and Alpesh Shah, Managing Director and Senior Partner at Boston Consulting Group, and chaired by Ananth Narayan, former Whole–Time Member of SEBI with extensive capital markets and regulatory experience.

The Katalyst Awards recognise financial content creators who priorities financial literacy, substance, and long–term investor interest. Through this initiative, Kotak Alts aims to encourage responsible financial communication and support the development of informed and confident investors across India.

About Kotak Alternate Asset Managers Ltd: Kotak Alternate Asset Managers Limited (‘Kotak Alts’), a part of Kotak Mahindra Group (‘Kotak’), focuses on Alternate Asset Management and Investment Advisory businesses. Kotak Alts was set up in early 2005 and has raised, managed, and advised over USD 22 billion across different asset classes, including Private Equity, Real Estate, Infrastructure, Special Situations, Private Credit, and Investment Advisory. The asset management business and investment advisory vertical are managed by independent specialist teams. For more information, visit https://www.kotakalternateasset.com/

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Paperpal for Life Sciences Establishes HIPAA Readiness, Strengthening Enterprise Adoption of AI in Regulated Medical and Scientific Writing Workflows

MUMBAI, India, March 10, 2026 /PRNewswire/ — Paperpal for Life Sciences, an enterprise-grade Artificial Intelligence (AI) platform by Cactus Communications, purpose-built for Medical Affairs and Life Sciences organizations, announced the completion of an assessment evaluating its operational and technical safeguards to support Health Insurance Portability and Accountability Act (HIPAA) requirements. This milestone reinforces Paperpal’s commitment to meeting the rigorous standards of security, data protection, and regulatory readiness required for regulated scientific workflows.

Growing AI use in medical affairs writing and publication workflows is intensifying scrutiny on data privacy, governance, and regulatory accountability. To support these evolving needs, Paperpal for Life Sciences has undertaken an assessment of its systems and processes to evaluate readiness to support HIPAA compliance, where applicable, and now proudly offers the option to execute a Business Associate Agreement (BAA) for Protected Health Information (PHI) and Personally Identifiable Information (PII). This offering gives customers the confidence that PHI or PII, if received, is handled securely and responsibly, in line with regulatory expectations and enterprise risk management practices.

Paperpal for Life Sciences provides AI writing, literature search, source-grounded summarization with citation support, and critical publication checks, powering medical affairs content creation under stringent data privacy and governance controls. The platform accelerates research-to-publication timelines by upto 25%, supporting faster dissemination of clinical evidence and earlier commercialization of new drugs and therapies.

Nishchay Shah, Group CTO and EVP, Products and AI at Cactus Communications, said, “As AI becomes foundational to regulated scientific and medical workflows, compliance and trust are no longer optional. Paperpal for Life Sciences’ HIPAA readiness measures reflect our secure-by-design approach to AI, strong data governance framework, and alignment with real-world enterprise and regulatory requirements. This milestone enables organizations to adopt AI at scale with confidence that their data, processes, and compliance obligations are protected .”

Elvira Dsouza, President, Cactus Life Sciences, added, “Medical Affairs and Life Sciences teams operate in highly regulated environments where scientific rigor, data privacy, and compliance are non-negotiable. HIPAA readiness positions Paperpal for Life Sciences as a trusted AI partner, one that enables organizations to accelerate evidence generation and scientific communication without compromising regulatory integrity .”

With this announcement, Paperpal for Life Sciences reinforces its position as a purpose-built, enterprise-ready AI platform for medical affairs content generation that supports innovation while meeting the highest standards of privacy, ethics, and regulatory compliance.

Media Contact:

Nidhi Amin

nidhi.amin@cactusglobal.com 

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