Indiamart records 128% rise in profit

MID DAY,

DELHI MID DAY CORRESPONDENT

INDIAMART.COM- has recorded 128 per cent rise in profits and 112 per cent growth in revenues (up from 135 lakh to Rs 287 lakh) over the last year. The EBDIT of the company has gone up by 150 per cent from Rs 13.9 lakh (audited) for the year 1999- 2000 to Rs34.7 lakh (provisional) for 2000-2001.

In today’s scenario, when the dotcom bubble is supposed to have burst, the organisation not only has broken even but also has shown profits during all five years of its operations since 1996. It was found to be the only dotcom reporting positive cash flows along with consistent profit figures among the 21 surviving dotcoms listed in a survey held recently.

The company’s CEO Dinesh Agrawal says, “Our strategy of network expansion to reach larger SME markets and offering multiple business services and solution thereby generating multiple revenue streams has done the trick for us. We made it a point to run our business just like any other conventional business and not to get carried away by the media hype about the dotcoms or the easy availability of VC’s in the market. We only held the ground strongly and kept a close eye on our costs and revenue.”

The company generates its revenues through multiple sources including development of online business catalogues, B2B auctions, web based advertising, co branded promotion and marketing campaigns and development of e-business and e-commerce solutions for clients. Engaging 160 professionals, the company operates from its head office in Delhi and a nation wide network of three branches ( Mumbai, Chennai and Lucknow) and 24 marketing franchisees at strategic locations.

IndiaMART online B2B marketplace attracts international Buyers looking for exporters, suppliers and manufacturers from India for business needs. The marketplace generates more than one lakh B2B trade queries every month through which its member SME businesses are estimated to have conducted a business worth Rs.600 crores in the last financial year alone. Already fetching close to 6 million page views, representing one of the highest figures in the world in B2B segment, Indiamart.com offers its visitors online B2B directory with over 60,000 businesses listed under more than 450 product/ service categories. Visitors to Indiamart.com can browse through over 1200 business catalogues and can interact online with member businesses. The marketplace also offers a lot of useful business information on key Indian industries, interactive community tools and business support services to facilitate B2B trade between its visitors and member businesses.

The marketplace plans to avail other business support services including logistics, insurance services, online to participating members through tie-ups with leading companies.