Indiamart Q2 net profit rises 18 percent to Rs 82 crore
B2B e-commerce firm Indiamart Intermesh witnessed an 18 percent rise in its consolidated net profit to Rs 82 crore ($11 million) in the second quarter ended September, as against a net profit of Rs 70 crore it reported in the year-ago period.
The company’s revenue for the quarter rose by 12 percent to Rs 182 crore, as against Rs 163 crore it reported in the corresponding period of the previous fiscal year.
Indiamart attributed the rise in profit and revenue to an increase in the number of paying subscribers, as well as a higher realisation from existing customers.
Commenting on the Q2 results, Indiamart CEO, Dinesh Agarwal, in a statement 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.”
Indiamart helps companies explore the digital way of doing business and enables them with an alternate sales channel to reach high intent buyers easily.
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