Noida, India, October 22, 2019: IndiaMART InterMESH Limited (referred to as “IndiaMART” or the “Company”), today announced its financial results for the second quarter ending September 30, 2019.
Performance Highlights: Q2 FY2020 vs. Q2 FY2019
- Consolidated Revenue from Operations of Rs. 157 Crore, YoY growth of 28%
- Consolidated EBITDA of Rs. 36 Crore representing 23% Margin
- Consolidated Cash generated from Operations at Rs. 42 Crore
Highlights for the Quarter ended September 30, 2019:
IndiaMART reported consolidated Total Revenue from Operations of Rs. 157 Crores, 28% growth YoY primarily due to the increase in the number of paying subscribers as well as a higher realization from existing customers. Consolidated Deferred Revenue grew by 28% from Rs. 492 Crores in Q2 FY19 to Rs. 631 Crore in Q2 FY20 Crore leading to much better visibility for revenues in future.
Consolidated EBITDA for Q2 FY20 was Rs. 36 Crore representing a margin expansion from 18% in Q2 FY19 to 23% in Q2 FY20. Profit before tax for the quarter was at Rs 51 Crore representing a Profit before tax margin of 29% as compared to 23% in Q2 FY19.
Tax expense for the quarter was at Rs 42 Crore which included the one-time impact of Rs. 31.4 Crore related to change in tax rate and law as the Company has opted to move to 25% tax regime as per the option is given in Taxation Amendment Ordinance 2019. Due to the above, the consolidated Net Profit for the period stood at Rs. 9 Crores.
The Company generated consolidated Cash Flow from Operations of Rs. 42 Crore leading to Cash and Investments of Rs. 780 Crore as on Sept 30, 2019, as compared to 503 Crore on Sept 30, 2018, an increase of 55% YoY.
Total business enquiries delivered witnessed an increase to 123 million from 118 million, a growth of 4%.
Supplier Storefronts grew to 5.7 million in Q2 FY20 from 5.4 million in Q2 FY19, an increase of 6% YoY. During the same period, paying subscription suppliers witnessed an increase to 137 thousand from 119 thousand, a growth of 15%.
Press Release October 22, 2019
Commenting on the performance, Mr. Dinesh Agarwal, Chief Executive Officer, said: “We are pleased to report results for the quarter ending September 2019 on expected lines, showcasing continued growth. The results are a reflection of our well-diversified business model and unique value proposition that we have developed over the years. Going forward, as we continue to steer ourselves in the challenging macro environment, we remain cautiously optimistic of maintaining the growth momentum.”