Internet Software & Services company IndiaMART InterMESH announced Q1FY24 results: Consolidated Q1FY24: Revenue from Operations of Rs 282 crore in Q1FY24, a growth of 26% YoY primarily driven by a 16% increase in the number of paying subscription suppliers Deferred Revenue increased by 25% YoY to Rs 1,202 crore as on June 30, 2023 EBITDA stood at Rs 77 crore for Q1FY24 representing an EBITDA margin of 27% Net Profit for Q1FY24 was Rs 83 crore representing a margin of 25% Cash Flow from Operations for Q1FY24 was at Rs 91 crore Cash and Investments balance stood at Rs 2,394 crore as on June 30, 2023. Standalone Q1FY24: Revenue from Operations of IndiaMART and Busy Infotech stood at Rs 268 crore and Rs 13 crore in Q1FY24 representing a YoY growth of 25% and 26% respectively EBITDA stood at Rs 76 crore for Q1FY24 representing an EBITDA margin of 28% IndiaMART registered traffic of 254 million and Unique business inquiries of 22 million in Q1FY24. Supplier Storefronts grew to 7.6 million, an increase of 6% YoY, and paying subscription suppliers grew to 2,07,683 a net addition of 4,993 subscribers during Q1FY24 Board of directors approved a buyback of 1,250,000 Equity shares at Rs 4,000 per equity share, for an amount not exceeding Rs 500 crore, subject to the approval of shareholders Commenting on the performance, Dinesh Agarwal, Chief Executive Officer, said: "We are pleased with the healthy growth in revenue, deferred revenue, cash flows along with steady operating margins as we start the new fiscal. We are confident about the continued growth and will continue to invest in technology and people to strengthen our value proposition further to accelerate digital adoption amongst businesses. Our sustainable cash flow helps us in making these investments towards building a strong foundation to leverage emerging growth opportunities.” Result PDF
Conference Call with IndiaMART InterMESH Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.