IndiaMART Q1FY24 results: Net profit up 78%, revenue from ops rises 26%

IndiaMART on Thursday reported a 78 per cent rise in its consolidated net profit in the quarter that ended on June 30 to Rs 83 crore from Rs 47 crore in the same quarter last year.

Its revenue from operations during the same period rose 26 per cent to Rs 282 crore from Rs 225 crore last year.

As compared to the previous quarter, which ended on March 31, the revenue was up 5 per cent from Rs 269 crore.

The company's consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at Rs 77 crore in the quarter with an EBITDA margin of 27 per cent.

"We are confident about the continued growth and will continue to invest in technology and people to strengthen our value proposition further to accelerate digital adoption amongst businesses. Our sustainable cash flow helps us in making these investments towards building a strong foundation to leverage emerging growth opportunities," said Dinesh Agarwal, chief executive officer at IndiaMart.

Its consolidated cash flow from operations for the quarter was at Rs 91 crore. The cash and investments balance stood at Rs 2,394 crore as of June 30, 2023.
 

Moreover, IndiaMART registered traffic of 254 million and unique business enquiries of 22 million in Q1FY24.