scorecardresearchIndiamart Q3 net profit rises 60.6% to ₹112.8 crore; revenue up 33.6%

Indiamart Q3 net profit rises 60.6% to 112.8 crore; revenue up 33.6% at 251.4 crore

Updated: 20 Jan 2023, 08:10 AM IST
TL;DR.

Indiamart Intermesh Ltd reported a 60.68% increase in its consolidated net profit of 112.8 crore for the third quarter ended December 31, 2022. Revenue from operations rose 33.65% to 251.4 crore compared to the same period last year. CEO Dinesh Agarwal said the company will continue to invest behind growth and focus on strengthening its value proposition.

Indian rupee banknotes arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

Indian rupee banknotes arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

New Delhi, Jan 19 (PTI) Indiamart Intermesh Ltd, a B2B e-commerce company, on Thursday reported a 60.68 per cent rise in its consolidated net profit to 112.8 crore for the third quarter ended December 31, 2022.

The company had posted a consolidated profit of 70.2 crore in the October-December quarter a year ago, it said in a regulatory filing.

Its consolidated revenue from operations in the third quarter rose 33.65 per cent to 251.4 crore against 188.1 crore in the corresponding period of the previous year, it added.

Commenting on the results Indiamart Intermesh CEO Dinesh Agarwal said it was led by growth in revenue, deferred revenue, paying subscription suppliers and cash flow from operations with healthy margins.

"Our strong balance sheet and sustainable cashflows enable us to continue investing in strengthening our manpower across the organisation as well as investments in strategic areas," he said.

The company will continue to invest behind the growth and focus on further strengthening our value proposition to leverage the emerging growth tailwinds due to accelerated digital adoption by businesses, Agarwal added.

Shares of Indiamart Intermesh Ltd on Thursday settled at 4,476.70 apiece, down 0.72 per cent from the previous close.

First Published: 20 Jan 2023, 08:10 AM IST