What even is this metric of pre-PDT (product and tech)?

OLX India reported a profit of INR 23 Cr pre-PDT costs, “annualised” as of July 2023.

A “profitable” OLX India with a net revenue of INR 285 Cr get acquired for 535.54 Cr (less than 2x revenue multiple).

Apparently income from export services billed by OLX India to it Amsterdam-based holding entity OLX BV made roughly 55% of its income in FY 2021.

This looks like a win-win for both CarTrade which is trading at 1/3rd of its listing price and Netherland based Prosus (owned 99% of OLX) which was looking to divest from loss making OLX Auto.

Source: https://lnkd.in/dJSg3xj4

Source: https://lnkd.in/dAFKNhzR

Original Post: https://www.linkedin.com/posts/saurabh-singh3994_cartrade-acquires-olxs-india-business-for-activity-7096834499941982209-Cj22

Date: 14 Aug 2023