Amit Kumar, the Managing Director (MD) and Chief Executive Officer (CEO) of OLX India (Sobek Auto India Private), has announced his resignation. Kumar will officially leave his role on January 31, 2025, in pursuit of new career opportunities. This leadership transition will be managed by OLX India’s Chairman Vinay Sanghi and the company’s management team.
Reflecting on His Journey
In a message to the CarTrade Group team, Kumar shared his appreciation for his time at OLX India. He remarked, “It has been a great experience in the last year and a half transitioning OLX India from the previous investors to the CarTrade group. I believe we have reached our destination of stabilising the company with the CarTrade philosophy and principles ingrained into OLX India’s DNA.” He also highlighted their success in making OLX India a profitable business.
Tenure and OLX India’s Evolution
Kumar initially joined OLX Group in 2017 and took on the role of MD and CEO in early 2024. His resignation follows CarTrade’s acquisition of OLX India’s auto business for Rs 537 crore (about USD 64 million) in July 2023. Kumar played a pivotal role in integrating OLX India with CarTrade’s principles and shaping the company’s journey toward profitability.
CarTrade Group’s Financial Progress
Kumar’s resignation comes as CarTrade Group reports a strong financial quarter. The company posted a 28% increase in consolidated revenue from operations year-over-year, reaching Rs 154.2 crore in Q2, up from Rs 120.01 crore in the same quarter last year.
