Amit Kumar Resigns as MD and CEO of OLX India Kumar's resignation will be effective from January 31, 2025, as he looks forward to new career opportunities.
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CarTrade Tech Limited recently announced that Amit Kumar has resigned as Managing Director and CEO of Sobek Auto India Private Limited, a key subsidiary operating as OLX India.
Kumar's resignation will be effective from January 31, 2025, as he looks forward to new career opportunities.
CarTrade disclosed this development to the BSE and NSE, emphasising a smooth leadership transition led by OLX India's Chairman, Vinay Sanghi, alongside the executive team.
Reflecting on his tenure, Kumar expressed gratitude for his time with OLX India, particularly since CarTrade's acquisition of OLX's auto business in July 2023. "It has been a great experience in the last year and a half transitioning OLX India under CarTrade. We have successfully embedded CarTrade's philosophy into OLX India's culture, reaching our mission of making OLX India a profitable business," Kumar noted in an email to CarTrade Group members.
Kumar originally joined OLX Group in 2017 and rose to MD and CEO in early 2024.
CarTrade's recent financial results underscore the group's growth momentum. In Q2 FY25, CarTrade reported a 28% year-on-year increase in revenue, totaling INR 154.2 crore, up from INR 120.01 crore the previous year. The company's profit after tax also surged by over 509% to INR 30.72 crore, a notable leap from INR 5.04 crore in Q2 FY24.
