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- The e-commerce company reported a net profit of Rs 63.5 crore in Q3FY20 as against 28.8 crore in Q3FY19.
- Total revenue from operations jumped 22.8 percent to Rs 160.5 crore versus Rs 130.7 crore YoY.
Shares of IndiaMART InterMESH rallied over 14 percent on Wednesday after it reported a two-fold jump in consolidated net profit for the third quarter of fiscal year 2020. The scrip surged 14.50 percent to touch a high of Rs 2,390 apiece on the BSE, quoting its highest level since listing on July 4, 2019.
At 10:07 am, shares of IndiaMART InterMESH were trading 13.73 percent higher at Rs 2,373.80 per share on the BSE.
The company had raised Rs 475 crore through an initial public offering (IPO) by issuing shares at Rs 973 per share.
The e-commerce company reported a net profit of Rs 63.5 crore in Q3FY20 as against 28.8 crore in Q3FY19.
Total revenue from operations jumped 22.8 percent to Rs 160.5 crore versus Rs 130.7 crore YoY primarily due to an increase in the number of paying subscribers as well as a higher realisation from existing customers.
Consolidated deferred revenue grew by 26 percent to Rs 649 crore during the quarter under review from Rs 517 crore in Q3FY19, leading to much better visibility for revenues in the future.
Consolidated EBITDA in Q3FY20 was Rs 44 crore while EBITDA margin expanded to 26 percent from 21 percent YoY.
“The company continued its growth despite the challenging business environment. Our focus on operational efficiency has helped us improve our profitability in these times. Going forward we are hopeful to witness an improvement in macroeconomy, we remain committed to strengthen our business model and enhance the value proposition for our customers,” said Dinesh Agarwal, Chief Executive Officer, IndiaMART InterMESH.
The company generated consolidated cash flow from operations of Rs 71 crore leading to cash and investments of Rs 859 crore as on December 31, 2019, as compared to 574 crore on December 31, 2018, an increase of 50 percent YoY.Traffic grew 9 percent to 18.8 crore in Q3FY20 from 17.3 crore YoY, however total business enquiries delivered witnessed marginal decline to 11.2 crore from 12 crore, a de-growth of 6 percent.