Internet Software & Services company IndiaMART InterMESH announced Q3FY24 results: Consolidated Financial Highlights (Q3FY24): IndiaMART reported consolidated Revenue from Operations of Rs 305 crore as compared to Rs 251 crore in the corresponding quarter of last year, representing a growth of 21%. This includes IndiaMART Standalone Revenue of Rs 291 crore and Busy Infotech Revenue of Rs 13 crore, registering a growth of 21% and 26% respectively on YoY basis. Collections from Customers grew to Rs 332 crore for the quarter and Deferred Revenue as of December 31, 2023, increased to Rs 1,270 crore representing a YoY growth of 25%. Net Profit for the quarter was at Rs 82 crore representing a margin of 24%. Cash Flow from Operations for the quarter was at Rs 106 crore. Cash and Investments balance stood at Rs 2,039 crore as of December 31, 2023. Standalone Financial Highlights (Q3FY24): Standalone Revenue from Operations of IndiaMART grew to Rs 291 crore as compared to Rs 240 crore last year representing a growth of 21%. The growth was primarily driven by an improvement in realization from existing customers and a 9% increase in the number of paying subscription suppliers. Collections from Customers grew to Rs 316 crore for the quarter and Deferred Revenue as of December 31, 2023, increased to Rs 1,229 crore representing a YoY growth of 24%. EBITDA for the quarter was at Rs 87 crore representing an EBITDA margin of 30%. Net Profit for the quarter was at Rs 92 crore representing a margin of 28%. Operational Highlights (Q3FY24): IndiaMART registered traffic of 272 million and Unique business inquiries of 23 million in Q3FY24; representing a YoY growth of 9% and 4% respectively. Supplier Storefronts grew to 7.8 million, an increase of 5% YoY, and paying subscription suppliers grew to 212K representing a net addition of 1,826 subscribers during the quarter. Commenting on the performance, Dinesh Agarwal, Chief Executive Officer, said: "We are pleased to report modest growth in revenue, deferred revenue, and healthy operating margins in the third quarter. We continue to focus on enhancing customer experience on our platform and driving deeper penetration of paying customers across cities, enabling businesses to grow online. We remain confident of sustained profitable growth and cash flows as we leverage market opportunities amidst increasing digital adoption by businesses." Result PDF
Internet Software & Services company IndiaMART InterMESH announced Q2FY24 results: Financial Performance - Consolidated revenue from operations of Rs 295 crore, YoY growth of 22% - Consolidated cash generated from operations at Rs 102 crore - Consolidated net profit of Rs 69 crore Revenue and User Metrics - Standalone revenue from operations grew by 23% YoY to Rs 281 crore - Revenue from operations of Busy Infotech grew by 24% YoY to Rs 13 crore - Consolidated deferred revenue increased by 26% YoY to Rs 1,244 crore - IndiaMART registered traffic of 288 million and Unique business enquiries of 24 million in Q2FY24 Operating Margins and Profitability - Standalone EBITDA stood at Rs 81 crore for Q2FY24 representing an EBITDA margin of 29% - Consolidated EBITDA stood at Rs 80 crore for Q2FY24 representing an EBITDA margin of 27% - Consolidated profit before tax was at Rs 93 crore - Consolidated net profit for this quarter was Rs 69 crore representing a margin of 28% and 21% respectively Cash Flow and Investments - Consolidated cash flow from operations for the quarter was at Rs 102 crore - Consolidated cash and investments balance stood at Rs 1,910 crore as of September 30, 2023 Operational Highlights - Supplier Storefronts grew to 7.7 million, an increase of 5% YoY - Paying subscription suppliers grew to 2,09,747 representing a net addition of 2,064 subscribers during the quarter Commenting on the performance, Dinesh Agarwal, Chief Executive Officer, said, "We are happy to report continued growth in revenue, deferred revenue, and healthy operating margins in this quarter. This is the result of investments made in further strengthening our value proposition and enhancing the user experience for businesses. With the rising internet adoption and on the back of healthy cash flows, we are confident of the long-term growth and sustained value creation for all our stakeholders." Result PDF