IndiaMART gains 18% rise in Q2 Net Profits
- ByStartupStory | October 22, 2021
B2B e-commerce platform IndiaMART reported a consolidated net profit of Rs 82.11 crore, up 17.6% on Thursday for the quarter ended September 30, 2021.
The company reported a net profit of Rs 69.87 crore in the past fiscal year. year (FY21).
Operating income during the Q2FY period22 increased by 11.7% to Rs 182.37 cr compared to Rs 163.24 cr in the corresponding quarter of 202021 due to better fulfilment from existing customers and an increase in the number of paid subscription providers.
Consolidated deferred income increased 20% year over year to reach 756 Cr INR in the quarter ended September 30, 2021.
According to the regulatory filing, the B2B e-commerce business’s consolidated EBITDA was 83 Cr INR at INR 82 Cr at T2 FY21. The EBITDA margin for the quarter under review was 46%.
Consolidated cash flow from operating activities for the quarter was 99 Cr INR, with an annual growth rate of 28%.
In terms of traffic growth, the company said it posted 10% traffic growth in the July-September FY22 period to 28.4 Cr, compared to 25.9 Cr in the same quarter of the previous fiscal year.
IndiaMART saw traffic increase by 10% to 284 million in the second quarter of FY22, compared to 259 million in the second quarter of FY21.
In August, the company acquired a 26% stake in `Agillos ECommerce`, for INR 26 Cr, which offers SaaS solutions under the `Aerchain` brand that allow medium and large companies to automate their provisioning activities.
Dinesh Agarwal, the CEO, said: “Our strong balance sheet and operating cash flow enable us to help businesses transform, embrace digitization and grow in these times. We continue to make the right investments needed to deliver our value proposition and positioning
The company, founded 25 years ago by Dinesh Agarwal and Brijesh Agarwal, has a market capitalization of INR 26,000 Cr. The company, listed on the ESB in June 2019, while leveraging emerging growth to create long-term shareholder value closed fiscal year 21 with an annualized growth of 90% in net profit of INR 280 Cr. The company posted total revenues of 756 Cr INR in FY21, an increase of 7% year-over-year from the 707 Cr INR it earned in FY20.
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