Its consolidated revenue from operations rose 11.7% to INR 182.37 Cr in Q2FY22
The B2B ecommerce platform attributed the increase in revenue to the improvement in realisation from existing customers along with the rise in the number of paying subscription suppliers
In August, it had acquired a 26% stake in ‘Agillos E-Commerce’
B2B ecommerce platform IndiaMART has reported a 17.6% rise in its consolidated net profit for the July-September quarter to INR 82.11 Cr on a year-on-year (YoY) basis.
During the same period of the last financial year (FY21), the Delhi NCR based company had recorded a net profit of INR 69.87 Cr.
The jump in profits came on an 11.7% increase in the consolidated revenue from operations of the company to INR 182.37 Cr in Q2FY22, compared to INR 163.24 Cr earned during the corresponding quarter of last fiscal.
IndiaMART attributed the increase in revenue to the improvement in realisation from existing customers along with the rise in the number of paying subscription suppliers.
Its consolidated deferred revenue grew by 20% YoY to INR 756 Cr in the quarter ended September 30, 2021.
According to the regulatory filing, the B2B ecommerce major’s consolidated EBITDA was INR 83 Cr during the 2nd quarter of FY22, compared to INR 82 Cr in Q2 FY21. EBITDA margin for the quarter under review stood at 46%.
The consolidated cash flow from operations for the quarter was at INR 99 Cr, with a YoY growth of 28%.
In terms of traffic growth, the company said that it registered a 10% growth in traffic in the July-September FY22 period at 28.4 Cr, compared to 25.9 Cr in the same quarter of the previous financial year.
IndiaMART registered a 10% traffic growth at 284 Mn in Q2 FY22 as compared to 259 Mn in Q2 FY21.
In August, the company acquired a 26% stake in ‘Agillos E-Commerce’, for INR 26 Cr which under the brand name of ‘Aerchain’, offers SaaS-based solutions allowing mid to large-sized enterprises to automate their procurement operations.
Dinesh Agarwal, Chief Executive Officer, said, “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. We continue to make the right investments needed to strengthen our value proposition, and positioning while leveraging the emerging growth tailwind to create long term shareholder value.”
Started 25 years ago by Dinesh Agarwal and Brijesh Agarwal, the company has a market capitalisation of INR 26,000 Cr. Listed on BSE in June 2019, the company ended FY21 with a 90% year-on-year growth in net profit to INR 280 Cr. The company recorded total revenue of INR 756 Cr in FY21, a 7% YoY increase from the INR 707 Cr it earned in FY20.