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CarTrade Tech calls off consolidation talks with CarDekho parent Girnar Software
CarTrade added that it will continue to focus on strengthening its current portfolio across its platforms—CarWale, BikeWale, OLX India, and Shriram Automall
CarTrade Tech Ltd, the parent company of CarWale, BikeWale, OLX India, and other platforms, reported a 109% year-on-year rise in profit after tax
CarTrade Tech Ltd, the parent company of CarWale, BikeWale, OLX India and other platforms, on Thursday announced that its proposed deal with Girnar Software Pvt. Ltd., which operates CarDekho and BikeDekho, has been discontinued.
In a filing to the stock exchanges, CarTrade said it had disclosed on November 11 that it was in preliminary discussions with Girnar Software regarding a potential consolidation opportunity in India’s automotive classifieds space. However, both companies have now decided to call off the plan.
“Both the parties have mutually decided not to proceed with the proposed transaction at this stage. Accordingly, the transaction is not being pursued for now,” the company said.
CarTrade added that it will continue to focus on strengthening its current portfolio across its platforms—CarWale, BikeWale, OLX India, and Shriram Automall. The company said it sees strong fundamentals, a large and expanding total addressable market, and significant growth opportunities in its existing businesses. It will pursue its strategic roadmap with emphasis on product and technology innovation, it added.
CarTrade Tech recently reported a 109% year-on-year increase in profit after tax (PAT) for the second quarter of FY26, posting Rs 64.08 crore, compared to Rs 30.73 crore in the same period last year. Total income for the July–September quarter rose 29% to Rs 222.14 crore from Rs 172.23 crore in Q2 FY25.
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