logo
close icon

IndiaMART InterMESH rallies over 14% after Q3 net profit jumps two-fold | CNBC TV 18

CNBC TV 18

  • 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.

Business Standard | MoneyControl | ET Market |

Published
Categorized as Top Stories

Latest Posts

Budget 2025 will support MSME sector further

Posted on April 24, 2025

The Launch of National centres of excellence for skilling, and Atal Tinkering Labs in government schools to encourage curiosity, innovation, and scientific temper indicates that the future of the...

Read More

Budget 2025 will support MSME sector further

Posted on April 24, 2025

two important areas that demand special mention are the programmes for manufacturing and the skilling of the future workforce. The introduction of the National Manufacturing Mission to support the MSMEs...

Read More

Budget 2025 will support MSME sector further

Posted on April 24, 2025

Addressing the issues of credit access and skilling, much prevalent in the sector, saw significant reforms in the budget today. The revised criteria for classification and...

Read More

Budget 2025 will support MSME sector further

Posted on April 24, 2025

  We are delighted to see the overwhelming contribution and growth of the MSME sector in India and the government’s continuous focus on enhancing it...

Read More