New Delhi, 19th August, 2004: IndiaMART InterMESH Ltd., one of the pioneering B2B online marketplaces of India, has announced a 108% growth in profits over last year. The company has recorded over 65% growth in revenues (from Rs. 438.24 lacs to Rs. 724.03 lacs). The PAT has gone up by almost 108% from Rs.24.32 lacs to Rs.49.9 lacs during the same period. The EBDITA of the company representing internal cash accruals modestly stands at Rs.193.57 lacs.
Another deserving endorsement for the company is that IndiaMART client tally has crossed the 6000 mark. This has made the company a clear leader in the Indian Industry and has brought it in league with the global players like Alibaba and Global Sources.
“In light of the new economic scenario, respectable performance in the previous year and the first quarter results we look forward to better figures the coming year”, said Mr Dinesh Agarwal, Founder & CEO of IndiaMART.com. He attributes the reason for this jump to various changes like process automation, new services and technological advancements along with the industry trend where in the global buyers are fast moving to digital marketplaces for their sourcing needs.
A major achievement of the company in the past year has been the ‘TrustSEAL’ certification service that has been able to bridge the ‘Trust Gap’ between the global buyers and the Indian suppliers. The certified businesses benefit in having a distinct online visibility and the buyer confidence. As a result, the company has been able to generate business of over Rs.1600 crore (estimated) for its clients in the last financial year.
“The company has been able to utilise the valuable manpower in more productive services through internal restructuring and automation”, elaborates Mr. Brijesh Agarwal, COO IndiaMART.com. He said that the company has a nation wide network of over 12 branches and franchises at strategic locations. The consistent performance and online presence of IndiaMART for eight years has added to the company credibility.
IndiaMART offers a strong database of over 3 lacs well-categorised businesses. The member businesses can be contacted online. Their pages get over 20 million page views and 3 lac trade enquiries are generated. The marketplace also carries valuable information on key Indian industries and business support services.
IndiaMART seeks to achieve an even better growth in the coming year. The company plans to introduce new services for the clients. With the better technology and newer revenue streams, IndiaMART is all set to take the challenge.
IndiaMART Snapshots & its Valuable Firsts:
1996: Launched Online B2B Directory to promote Indian businesses globally
1997: Launched India’s first e-commerce website for Nirula’s
1997: Launched world’s first portal dedicated to Indian Handicraft
1999: Launched online shopping network and sending Diwali Gifts.
2001: Business World-Netsense Survey declared IndiaMART as the only profitable dotcom
2001: Encyclopaedia Britannica Internet Award for excellence on web for Indian Travel Portal
2002: Set up India’s largest web-development centre in NOIDA
2003: Started India’s first Business Verification Service “TrustSEAL” for online B2B trade
2004: Achieved over 5000 B2B clients by January
IndiaMART.com Financial Results -Year Ending March 2004
|Rs Lacs||Rs Lacs||Rs Lacs|
|Income From operations||724.03||438.24||351.82|
|Depreciation & Amortisation||138.1||25.68||17.48|
|Profit before Tax||54.05||26.36||11.45|
|Provision for Taxation||4.15||2.04||2.72|
|Profit After Tax||49.9||24.32||8.72|