IndiaMART InterMESH Limited has announced its financial results for the second quarter ending September 30, 2024.
The company reported consolidated revenue from operations of Rs 348 crore as compared to Rs 295 crore in the corresponding quarter last year, representing a growth of 18%.
This includes IndiaMART’s standalone revenue of Rs 332 crore and Busy Infotech’s revenue of Rs 15 crore, registering a growth of 18% and 19%, respectively, YoY.
Customer collections grew 6% to Rs 356 crore during the quarter, and mainly comprised of standalone collections of Rs 337 crore and Busy Infotech collections of Rs 17 crore.
Deferred revenue as on September 30, 2024 increased to Rs 1,483 crore, representing a year-on-year growth of 19%. This primarily includes standalone deferred revenue from IndiaMART of Rs 1,426 crore and deferred revenue from Busy Infotech of Rs 53 crore.
The net profit for the quarter was Rs 135 crore, representing a margin of 33%. Cash flow from operations during the quarter was Rs 103 crore. Cash and investments stood at Rs 2,449 crore as on September 30, 2024.
Standalone Financial Highlights (Q2 FY2025)
Standalone income from operations increased to Rs 332 million compared to Rs 281 million last year, representing a growth of 18%.
The growth was mainly driven by an improvement of around 14% in the realization of paying suppliers and the remainder by an increase in the number of paying suppliers.
Customer collections grew to Rs. 337 crore for the quarter and deferred revenue as of September 30, 2024 increased to Rs 1,426 crore, representing a year-on-year growth of 18%.
EBITDA for the quarter was Rs 120 crore, representing a margin of 36%. Net profit for the quarter was Rs 127 crore, representing a margin of 32%.
Operational Highlights (Q2 FY2025)
IndiaMART recorded unique business inquiries of 28 million in Q2FY25, representing a year-on-year growth of 14%. Provider storefronts grew to 8 million, an increase of 5% year-over-year and payment providers grew to 218,000, representing a net addition of 2.4 thousand subscribers during the quarter.
“We have closed the second quarter with healthy growth in revenue and operating margins along with modest growth in deferred revenue and cash flows. We remain committed to the vision of “Making doing business easy” and enabling businesses to grow online “said Dinesh Agarwal. , CEO of IndiaMART.
“We continue to focus on improving the experience of buyers and suppliers and further strengthening our value proposition. Thanks to healthy cash flows and increasing adoption of the Internet by businesses, we remain confident in sustained profitable growth for the times “Agarwal added.
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