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Published
Jan 25, 2022
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Indiamart’s Q3 net profit declines 12 percent to Rs 70 crore

Published
Jan 25, 2022

B2B e-commerce firm Indiamart Intermesh reported a 12 percent decline in consolidated net profit to Rs 70 crore ($9.5 million) for the third quarter ended December 2021, as against a net profit of Rs 80 crore it posted in the year-ago period.
 

Indiamart’s Q3 net profit declines 12 percent to Rs 70 crore - Sparwelt.de


The company’s revenue for the quarter dropped by 8 percent to Rs 188 crore, as against Rs 174 crore it reported in the corresponding period of the previous fiscal year.
 
Commenting on the Q3 results, Dinesh Agarwal, CEO of Indiamart Intermesh in a statement said, “We are pleased to report a good financial performance in this quarter with growth in customers and deferred revenue with healthy margins and cash flows. Growing internet adoption strengthens our value proposition of helping businesses transform themselves to do business online.”

“On the back of a strong balance sheet and cash flow from operations, the company will continue to invest in its employees and product offerings that create long term value for its shareholders,” he 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.

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