1 November, 2001: IndiaMART.com – India’s only dotcom company to have broken even and shown cash profits according to the Business World-Netsense survey of dotcom profitability conducted in May 2001 has further recorded a 92% rise in half yearly profits with 61% growth in revenues (up from Rs 110.7 lakh to Rs 177.9 lakh) over the same period last year. The EBDIT of the company has gone up by 69.6% from Rs 13.9 lakh (audited) to Rs 34.7 lakh during the same period. One of the first portals launched during the early phases of evolution of Internet in India in 1996, IndiaMART not only has broken-even but also has shown profits during all five years of its operations with an average growth of 110% p.a.
Promoting Indian business globally through Internet, IndiaMART operates in B2B and online travel services and solutions. “The global recession has affected our clients engaged in international trade and travel, who are now looking up to us to provide them with newer business opportunities. We are delighted to see that their trust in IndiaMART has further increased in the rough times. We shall continue to offer innovative online business promotion services and solutions for their business benefit”, comments Mr Dinesh Agarwal, CEO – IndiaMART Intermesh Ltd. with two soon to be launched offerings in the pipeline, one each for the B2B and travel segments.
2. Half-Yearly (1 Apr-30 Sep 2001) Financial Results:
|Half yearly results (1 Apr – 30 Sep)
|Particulars/financial years||2001||2000||1 Apr 2000 – 31 Mar 2001|
|Income From Operations||177.93||110.72||281.04|
|Profit Before Tax||11.11||5.75||14.67|
|Provision For Taxation||2.00||1.00||2.00|
|Profit After Tax||9.11||4.75||12.67|