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Noida, India, January 21, 2020: IndiaMART InterMESH Limited (referred to as “IndiaMART” or the “Company”), today announced its financial results for the third quarter ending December 31, 2019.
Highlights for the Quarter ended December 31, 2019:
IndiaMART reported consolidated Total Revenue from Operations of Rs. 165 Crore, 23% growth YoY primarily due to increase in number of paying subscribers as well as higher realization from existing customers. Consolidated Deferred Revenue grew by 26% from Rs. 517 Crore in Q3 FY19 to Rs. 649 Crore in Q3 FY20 Crore leading to much better visibility for revenues in future.
Consolidated EBITDA for Q3 FY20 was Rs. 44 Crore representing a margin expansion from 21% in Q3 FY19 to 26% in Q3 FY20 partly due to increase in revenues and adoption of IndAS 116. Consolidated EBIT for Q3 FY20 was Rs. 38 Crore representing a margin expansion from 20% in Q3 FY19 to 23% in Q3 FY20.
Profit before tax for the quarter was at Rs 53 Crore representing a Profit before tax margin of 29%. Net Profit for the quarter was at Rs 62 Crore post Deferred Tax credit of Rs 22.9 Crore on account of certain timing differences pertaining to the earlier years.
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% YoY.
Operational Highlights:
Traffic grew to 188 million in Q3 FY20 from 173 million in Q3 FY19, an increase of 9% YoY, however total business enquiries delivered witnessed marginal decline to 112 million from 120 million, a de-growth of 6%. Supplier Storefronts grew to 5.9 million in Q3 FY20 an increase of 8% YoY and paying subscription suppliers grew to 141.6 thousand, a growth of 15%.
Commenting on the performance, Mr. Dinesh Agarwal, Chief Executive Officer, said:
“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 macro economy, we remain committed to strengthen our business model and enhance value proposition for our customers.”
| Particulars (Rs. Cr) | Unit | Q3 FY20 | Q3 FY19 | Y-o-Y Growth | Q2 FY20 | Q-o-Q Growth |
| Total Income | (Rs. Crore) | 181 | 147 | 23% | 177 | 3% |
| Revenue from Operations | (Rs. Crore) | 165 | 134 | 23% | 157 | 5% |
| EBITDA | (Rs. Crore) | 44 | 27 | 58% | 36 | 20% |
| EBITDA Margin | % | 26% | 21% | 23% | ||
| EBIT | (Rs. Crore) | 38 | 26 | 43% | 31 | 21% |
| EBIT Margin | % | 23% | 20% | 20% | ||
| Other Income | (Rs. Crore) | 17 | 13 | 24% | 20 | (19)% |
| Profit Before Tax | (Rs. Crore) | 53 | 40 | 34% | 51 | 4% |
| Profit Before Tax Margin | % | 29% | 27% | 29% | ||
| Net Profit for the period | (Rs. Crore) | 62 | 28 | 124% | 9 | 615% |
| Net Profit Margin | % | 34% | 19% | 5% | ||
| Cash generated from Operating Activities | (Rs. Crore) | 71 | 60 | 18% | 42 | 68% |
| Deferred Revenue | (Rs. Crore) | 649 | 517 | 26% | 631 | 3% |
| Cash and Investment | (Rs. Crore) | 859 | 574 | 50% | 780 | 10% |
About IndiaMART:
IndiaMART is India’s largest online B2B marketplace for business products and services. It is a platform that connects buyers and sellers across borders and time-zones through business solutions. IndiaMART provides ease and convenience to the buyers by offering a wide assortment of products and a responsive seller base while offering lead generation, lead management and payment solutions to its sellers.
| IndiaMART InterMESH Ltd. CIN : L74899DL1999PLC101534 Corporate Office Tower 2, Assotech Business Cresterra, Floor No.6, Plot No.22, Sec 135, Noida-201305, U.P. Registered Office 1st Floor, 29-Daryaganj, Netaji Subash Marg, Delhi – 110002.For any queries, please contact: investors@indiamart.com |