Indiamart’s Q3 net profit rises 61 percent to Rs 113 crore

By

Maverick Martins

Published
Jan 20, 2023

Business-to-business e-commerce firm Indiamart Intermesh Ltd witnessed a 61 percent rise in its consolidated net profit to Rs 113 crore ($14 million) for the third quarter ended December 2022, as against Rs 70 crore reported in the year-ago period.

The company’s revenue for the quarter rose by 34 percent to Rs 251 crore, as against Rs 188 crore in the corresponding period of the previous fiscal year.

Commenting on the results Dinesh Agarwal, CEO of Indiamart Intermesh in a statement said, “It was led by growth in revenue, deferred revenue, paying subscription suppliers and cash flow from operations with healthy margins. Our strong balance sheet and sustainable cashflows enable us to continue investing in strengthening our manpower across the organisation as well as investments in strategic areas.”

“The company will continue to invest behind the growth and focus on further strengthening our value proposition to leverage the emerging growth tailwinds due to accelerated digital adoption by businesses,” Agarwal added.

Indiamart helps companies explore the digital way of doing business and enables them with an alternate sales channel to reach high intent buyers easily.