IndiaMART InterMESH Q2 PAT rises 18%, margins contract 400 bps YoY

IndiaMART InterMESH posted a 18% rise in consolidated net profit to Rs 82 crore on a 12% increase in net sales to Rs 182 crore in Q2 FY22 over Q2 FY21.

On a sequential basis, the company posted a 7% fall in net profit on a 0.4% increase in net sales in Q2 FY22 over Q1 FY22. Profit before tax fell 3% quarter on quarter but gained 16% year on year to Rs 108.60 crore in Q2 FY22.

Consolidated EBITDA was at Rs 83 crore in Q2 FY22, rising 2% year on year but falling 6% quarter on quarter. EBITDA margin fell to 46% in Q2 FY22 from 49% in Q1 FY22 and 50% in Q2 FY21.

IndiaMART registered a traffic growth 10% year on year with 284 million in Q2 FY22 as compared to 259 million in Q2 FY21. Unique business enquiries stood at grew to 6.7 million, an increase of 7% YoY and paying subscription suppliers grew to 150 thousand, a growth of 6%.

Commenting on the performance, Dinesh Agarwal, CEO said, We are pleased with the visible recovery momentum across business leading to modest growth in revenue, customers and deferred revenue in this quarter. Our strong balance sheet and cash flows from operations give us the wherewithal to help businesses transform, adopt digitalization and grow themselves in these times. We continue to make the right investments needed to strengthen our value proposition, and positioning while leverage the emerging growth tailwind to create the long-term shareholder value.

Shares of IndiaMART InterMESH fell 3.96% to Rs 8,226.05 on BSE.

IndiaMART is India's largest online B2B marketplace for business products and services. IndiaMART makes it easier to do business by connecting buyers and sellers across product categories and geographies in India through business enablement solutions.

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