B2B ecommerce platform IndiaMART on July 22, 2021 reported to have a net profit worth INR 88 Cr, a 19% rise from INR 74 Cr in Q1 of 2021
IndiaMART’s consolidated total revenue from operations worth INR 182 Cr in Q1 of FY 22. This a sharp increase of 19% year-on-year (YoY)caused due to improvement in realisation from existing customers and surge in the number of paying subscription supplies.
The Noida-based company has reported an increase in consolidated deferred revenue of INR 87 Cr from INR 628 Cr in Q1 of FY 21 to INR 715 Cr in Q1 of FY 22.
Consolidated EBITDA stood at INR 89 Cr as compared to INR 73 Cr in Q1 FY21. EBITDA margin for Q1 FY22 was at 49%. Consolidated EBITA for the period was INR 85 Cr. EBITA margin increased to 47% in Q1 FY22 from 45% in Q1 FY21.
As per the financial report, IndiaMART’s profit before tax was pegged at INR 112 Cr and net profit was INR 88 Cr, representing margins of 53% and 42% respectively.
The company’s consolidated cash flow from operations for Q1 of FY22 was INR 61 Cr whereas, cash and investments balance stood at INR 2,421 Cr on June 30, 2021. This is a 154% increase for the same period in the last financial year.
In the backdrop of the second wave of the pandemic, IndiaMART witnessed buyer traffic of 268 Mn in Q1 and business enquiries were reported to be 162 Mn. Interestingly, paying subscription suppliers went up to 1,46,000, a 9% increase since last Q1 of FY 21.
Commenting on the quarterly report, Dinesh Agarwal, chief executive officer of IndiaMART said, “We have been able to navigate the disruptions caused by the second wave of covid, much better than the last year and have sustained a profitable growth in this quarter. Our focus had been to continue supporting customers as well as employees in the times that had been personally challenging to many. As the overall demand environment improves, because of our strong network effect, financial position and investments in strengthening the value proposition, we will continue supporting businesses transforming themselves to online and capitalize on the new growth opportunities arising from the accelerated adoption of the internet.”
Started 25 years ago by Dinesh Agarwal and Brijesh Agarwal the company is an INR 24,000 Cr business as per KPMG. Listed on BSE in June 2019, the company ended FY21 with 90% year-on-year growth in net profit to INR 280 Cr. The company recorded total revenue of INR 756 Cr in FY21, a 7% YoY increase from the INR 707 Cr it earned in FY20