IndiaMart InterMesh Q4 PAT climbs 26% to Rs 56 cr

The B2B company's consolidated net profit jumped 25.73% to Rs 55.70 crore on 5.64% rise in revenue from operations to Rs 179.70 crore in Q4 FY21 over Q4 FY20.

Consolidated profit before tax (PBT) soared 45.75% to Rs 89.20 crore in Q4 March 2021 as against Rs 61.20 crore in Q4 March 2020. The Q4 earnings were announced post market hours today, 29 April 2021.

On a consolidated basis, IndiaMart InterMesh recorded a 89.82% jump in net profit to Rs 279.80 crore in FY21 as against Rs 147.40 crore in FY20. Revenue from operations gained 4.80% to Rs 669.60 crore in FY21 over FY20.

Meanwhile, the board recommended a final dividend of Rs 15 per equity share for the financial year ended 31 March 2021.

Meanwhile, the company on Wednesday announced that it will acquire stake in Gurugram-based Shipway Technology and invest more in a Kolkata firm. The company, through its wholly owned subsidiary Tradezeal Online, will acquire 26% stake in Shipway Technology for Rs 18.2 crore.

Shipway Technology Private is engaged in the business of developing SaaS based solutions which allow small businesses to automate their shipping operations.

In another transaction, Tradezeal agreed to acquire an additional 3.02% stake in Kolkata-based Truckhall from IIM Calcutta Innovation Park for Rs 1.33 crore. The transaction would increase IndiaMart's total shareholding in the company to 25.02%.

Truckhall manages a SaaS-based platform that digitises freight sourcing by finding the best possible rates through a bidding and auction structure.

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

Shares of IndiaMart InterMesh rose 0.85% to end at Rs 8,794.45 on BSE. The scrip hovered in the range of Rs 8,551.40 to Rs 8,927 during the day.

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