Join our Waitlist for Expert Advice!

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.

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Amit Kumar, MD and CEO of OLX India

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.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.
Starting a Business

What No One Tells You About Entrepreneurship — 5 Hard Truths

Here are five things you need to consider before becoming an entrepreneur.

Starting a Business

Which Business Model Is Right for You? Here's What You Need to Know Before Choosing One.

Choosing the right business model is pivotal in shaping your entrepreneurial journey. Explore the benefits and challenges of various models — from franchising to lean startups — to find the one that aligns best with your vision and market needs.

Business News

'Plenty of Room for Startups': This Is Where Entrepreneurs Should Look for Business Opportunities in AI, According to Microsoft's AI CEO

Entrepreneurs may find their niche in a key area of AI intelligence: stopping hallucinations.

Business News

You Have 2 Months to Prepare Your Business for AI Agents. Here's Why!

Get Ready: AI Agents Are Transforming the Workforce Faster Than You Think

Management

How to Create a Positive Work Environment As a Leader

A leader's well-being is the cornerstone of effective team management. When leaders support their own and their team's well-being through the practice of 'Expressive Arts,' they create a positive environment that fosters self-awareness, trust, collaboration and productivity within their teams.