scorecardresearchIndiaMART Q2 net profit drops 17% to ₹68 crore

IndiaMART Q2 net profit drops 17% to 68 crore

Updated: 21 Oct 2022, 08:02 AM IST
TL;DR.
IndiaMART said it registered traffic of 26.1 crore and total business enquiries of 12.2 crore during the reported quarter.
The Indian rupee could cross 82 per dollar mark in the fourth quarter and stay above the 80-to-a-dollar mark in 2023-24. (Photo: iStock)

The Indian rupee could cross 82 per dollar mark in the fourth quarter and stay above the 80-to-a-dollar mark in 2023-24. (Photo: iStock)

(PTI) B2B e-commerce firm IndiaMART InterMESH on Thursday reported a 17 per cent drop in consolidated net profit to 68 crore for the quarter ended September.

The company had posted a net profit of 82 crore in the same period a year ago.

The consolidated revenue from operations, however, increased by 32 per cent to 241 crore from 182 crore in the September 2021 quarter.

"We are pleased to report growth in revenue, customers and deferred revenue along with healthy margins and cash flows in a stable demand environment," IndiaMART InterMESH CEO Dinesh Agarwal said.

IndiaMART said it registered traffic of 26.1 crore and total business enquiries of 12.2 crore during the reported quarter.  

"Paying subscription suppliers grew by 25 per cent YoY (year-on-year) to 1,88,092 with a net addition of 8,832 paying subscription suppliers during the quarter," the company said. 

First Published: 21 Oct 2022, 08:02 AM IST