IndiaMART InterMESH Limited reports 37% YoY growth in Revenues in Q1 FY’20 | India News & Times

India News & Times

IndiaMART InterMESH Limited (referred to as “IndiaMART” or the “Company”), today announced its financial results for the first quarter ending June 30, 2019.

Performance Highlights: Q1 FY2020 vs. Q1 FY2019 :

  • Consolidated Total Income of Rs. 162 Crore, YoY growth of37%
  • Consolidated EBITDA of Rs. 37 Crore representing 25%Margin
  • Consolidated Cash generated from Operations at Rs. 54Crore

Highlights for the Quarter ended June 30, 2019:   

IndiaMART reported consolidated Total Income of Rs. 162 Crores, 37% growth YoY, primarily driven by increase in revenue from operations. Consolidated Revenue from operations grew by 30% on YoY basis due to increase in number of paying subscribers as well as higher realization from existing customers. Consolidated Deferred Revenue grew by 32% from Rs. 461 Crores in Q1 FY19 to Rs. 610 Crore in Q1 FY20 Crore leading to much better visibility for revenues in future.

Consolidated EBITDA for Q1 FY20 was Rs. 37 Crore representing a margin expansion from 11% in Q1 FY19 to 25% in Q1 FY20, owing to increase in revenue and optimum utilization of resources. Consolidated Net Profit for the period stood at Rs. 32 Crores representing a margin of 20% as compared to loss of Rs. 56 Crore in Q1 FY19.

The Company generated consolidated Cash Flow from Operations of Rs. 54 Crore leading to Cash and Investments of Rs. 746 Crore as on June 30, 2019 as compared to 448 Crore on June 30, 2018, an increase of 67% YoY.

Operational Highlights:

Total business enquiries delivered witnessed an increase to 113 million from 98 million, a growth of 15%

Supplier Storefronts grew to 5.6 million in Q1 FY20 from 5.1 million in Q1 FY19, an increase of 11% YoY. During the same period, paying subscription suppliers witnessed an increase to 132.5 thousand from 113.1 thousand, a growth of 17%.

Commenting on the performance, Mr. Dinesh Agarwal, Managing Director, said: “We are pleased to report results for the first quarter ending June 2019. Our growth is a result of focus on execution and measures undertaken towardsenhancing buyer and supplier experience. We are continuously investing in expanding our network, enhancing ourtechnological capabilities and acquiring the best minds from the industry. We are hopeful that these measures would holdus in good stead going forward as well.”