IndiaMART InterMESH Limited on Thursday announced its financial results for the third quarter ending December 31, 2023, the company announced through an exchange filing.
Consolidated Financial Highlights
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 per cent. This includes IndiaMART Standalone Revenue of Rs 291 Crore and Busy Infotech Revenue of Rs 13 Crore, registering a growth of 21 per cent and 26 per cent respectively on YoY basis.
Collections from Customer grew to Rs 332 Crore for the quarter and Deferred Revenue as on December 31, 2023 increased to Rs 1,270 Crore representing a YoY growth of 25 per cent.
Net Profit for the quarter was at Rs 82 Crore representing margin of 24 per cent. Cash Flow from Operations for the quarter was at Rs 106 Crore. Cash and Investments balance stood at Rs 2,039 Crore as on December 31, 2023.
Standalone Financial Highlights
Standalone Revenue from Operations of IndiaMART grew to Rs. 291 Crore as compared to Rs 240 Crore last year representing a growth of 21 per cent. The growth was primarily driven by improvement in realization from existing customers and 9 per cent increase in number of paying subscription suppliers.
Collections from Customer grew to Rs. 316 Crore for the quarter and Deferred Revenue as on December 31, 2023 increased to Rs 1,229 Crore representing a YoY growth of 24 per cent.
EBITDA for the quarter was at Rs 87 Crore representing EBITDA margin of 30 per cent. Net Profit for the quarter was at Rs 92 Crore representing margin of 28 per cent.
Operational Highlights
IndiaMART registered traffic of 272 million and Unique business enquiries of 23 million in Q3 FY24; representing a YoY growth of 9 per cent and 4 per cent respectively. Supplier Storefronts grew to 7.8 million, an increase of 5 per cent YoY and paying subscription suppliers grew to 212K representing net addition of 1,826 subscribers during the quarter.
