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IndiaMART InterMESH jumps after stellar Q1 performance

Capital Market 

IndiaMART InterMESH rose 4.47% to Rs 1,256.65 at 9:19 IST on BSE after the company reported consolidated net profit of Rs 32.40 crore in Q1 June 2019 compared with net loss of Rs 56.40 crore in Q1 June 2018.

The result was announced after market hours yesterday, 31 July 2019.

Meanwhile, S&P BSE Sensex was down 191.01 points or 0.51% at 37,290.11.

On BSE, 752 shares were traded in IndiaMART InterMESH counter, compared to a 2-week average of 2,220 shares. The stock hit an intraday high of Rs 1,273.70 and an intraday low of Rs 1,226.30. It hit a 52-week high of Rs 1,367 on 8 July 2019 and a 52-week low of Rs 1,173.45 on 31 July 2019.

IndiaMART InterMESH's consolidated net sales rose 30% to Rs 147.30 crore in Q1 June 2019 over Q1 June 2018 due to increase in number of paying subscribers as well as higher realization from existing customers.

Consolidated EBITDA surged 201% to Rs 37 crore during the period under review, owing to increase in revenue and optimum utilization of resources. The consolidated EBITDA margin improved to 25% in Q1 June 2019 from 11% in Q1 June 2018.

Total business enquiries delivered witnessed an increase to 113 million from 98 million, a growth of 15%. Supplier storefronts grew to 5.6 million in Q1 June 2019 from 5.1 million in Q1 June 2018, an increase of 11% YoY. During the same period, paying subscription suppliers witnessed an increase to 132.5 thousand from 113.1 thousand, a growth of 17%.

The consolidated cash generated from operating activities increased 20% to Rs 54 crore in Q1 June 2019 over Q1 June 2018. The company's consolidated cash and investments also made a major leap of 67% to Rs 746 crore during Q1 June 2019 as against Q1 June 2018.

IndiaMART InterMESH,'s managing director, Dinesh Agarwal, said "We are pleased to report results for the first quarter ending June 2019. Our growth is a result of focus on execution and measures undertaken towards enhancing buyer and supplier experience. We are continuously investing in expanding our network, enhancing our technological capabilities and acquiring the best minds from the industry. We are hopeful that these measures would hold us in good stead going forward as well."

IndiaMART InterMESH is an Indian online B2B marketplace. It is a platform to integrate buyers and sellers through business solutions and connects sellers and buyers globally.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 01 2019. 09:28 IST
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