IndiaMART Q3 Profit Surges 48% YoY To INR 121 Cr

IndiaMART Q3 Profit Surges 48% YoY To INR 121 Cr

SUMMARY

B2B marketplace IndiaMART InterMESH posted a 48% jump in its consolidated net profit to INR 121 Cr in Q3 FY25 from INR 81.9 Cr in the year-ago period

On a quarter-on-quarter basis, net profit declined 10.4% from INR 135.1 Cr

Revenue from operations surged 16% year-on-year to INR 354.3 Cr during the quarter under review

Online B2B marketplace IndiaMART InterMESH posted a 48% jump in its consolidated net profit to INR 121 Cr in the third quarter of the financial year 2024-25 (Q3 FY25) from INR 81.9 Cr in the year-ago period on the back of healthy growth in its top line and improvement in EBITDA margin.

On a quarter-on-quarter basis, net profit declined 10.4% from INR 135.1 Cr in the July-September period.

Revenue from operations surged 16% to INR 354.3 Cr during the quarter under review from INR 305.3 Cr in the December quarter last year. Sequentially, the top line growth was muted as operating revenue rose a mere 1.9% from INR 347.7 Cr.

Founded in 1999 by Dinesh Agarwal, IndiaMART is one of the oldest internet firms in India. The company connects buyers with sellers across 58 industries and 98K product categories such as consumer electronics, chemicals & dyes, construction and raw materials, clothing and apparel, cosmetics and personal care, pharmaceuticals and automobiles among others. 

Since its listing in 2019, IndiaMART has invested in several new-age tech companies, including fintech startup Vyapar, legal tech startup Legistify, fraud detection startup IDfy, omnichannel inventory and warehouse management startup EasyEcom, HR tech startup Zimyo, logistics automation startup Fleetx, among others

Including other income of INR 44.9 Cr, the company’s total revenue stood at INR 399.2 Cr in Q3 FY25 as compared to INR 347 Cr in the same quarter last year.

The company’s EBITDA surged 61% year-on-year (YoY) to INR 138 Cr in the December quarter of the ongoing fiscal year.

In an investor presentation, IndiaMART said that its collections from customers grew 10% YoY to INR 363 Cr during the quarter under review, which primarily comprised the company’s standalone collections of INR 341 Cr and Busy Infotech’s collections of INR 17.6 Cr.  

It also registered 27 Mn unique business inquiries in Q3 FY25, registering a 17% YoY growth. Supplier storefronts and paying supplier additions were largely muted, rising 5% YoY to 8 Mn and 1% YoY to 214K, respectively in the reported quarter. Annualised revenue per paying supplier increased 14% YoY to INR 63K in Q3 FY25.

Meanwhile, deferred revenue zoomed 17% YoY to INR 1,492 Cr during the quarter under review. This primarily included IndiaMART’s standalone deferred revenue of INR 1,430 Cr and Busy Infotech’s revenue of INR 57.3 Cr.

Where Did IndiaMART Spend In Q3?

IndiaMART managed to trim its overall expenses by nearly 2% to INR 226.1 Cr in the quarter ended December 31, 2024, from INR 230.2 Cr in the same quarter last year. However, total expenditure rose 1.3% from INR 223.2 Cr on a sequential basis.

Employee Benefits Expense: This was the biggest expense head for the ecommerce unicorn during the quarter under review. The spending under this bucket rose 10.4% to INR 153 Cr in Q3 FY25 from INR 138.5 Cr in the year-ago quarter. On a QoQ basis, it went up 3.8% from 147.4 Cr.

Other Expenses: IndiaMART managed to bring down its spending in this bracket declined 22.3% to INR 63 Cr in the reported quarter from INR 81.1 Cr in the December quarter last year. On a QoQ basis, the spending under this head fell 4.1% from INR 65.7 Cr. However, the company did not share a breakup of these expenses.

Inc42 reported earlier that IndiaMART is set to purchase an additional stake in Mobisy Technologies, which operates SaaS startup Bizom, for a cash consideration of INR 14.3 Cr.

Shares of IndiaMART closed Tuesday’s trading session 1.09% higher at INR 2293.40 apiece on the BSE.

 

 

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