IndiaMART Q2 net profit rises 18% on-year to Rs 82 crore

B2B e-commerce platform IndiaMART on Thursday posted an 18% per cent increase in consolidated net profit at Rs 82 crore for the quarter ended September 30, 2021. 

The company had posted a net profit of Rs 70 crore in the same period a year ago. 

Revenue from operations rose 12 per cent to Rs 182 crore during the reported period, compared to Rs 163 crore in the corresponding quarter of 2020-21, driven by improvement in realisation from existing customers and increase in the number of paying subscription suppliers. 

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Consolidated deferred revenue grew by 20% year-on-year (YoY) to Rs 756 crore as of September 30, 2021.

Consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) during the said period stood at Rs 83 Crore as compared to Rs 82 Crore in Q2 FY21. 

EBITDA margin for Q2 FY22 stood at 46%. Consolidated Earnings Before Interest and Taxes (EBIT) for the period was Rs 80 Crore with Earnings Before Interest and Taxes (EBIT) margin of 44% in Q2 FY22.

Profit before tax was at Rs 109 crore and net profit was Rs 82 crore, representing margins of 51% and 38% respectively.

Consolidated cash flow from operations for the quarter was at Rs 99 crore, a YoY growth of 28%. Cash and investments balance stood at Rs 2,466 crore as of September 30, 2021, as compared to Rs 1,045 crore on September 30, 2020, an increase of 136% YoY.

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IndiaMART also registered traffic growth of 10% YoY with 284 million in Q2 FY22 as compared to 259 million in Q2 FY21 and Unique business enquiries stood at 26 million in Q2 FY22.

Commenting on the performance, Dinesh Agarwal, Chief Executive Officer, 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 digitalisation and grow themselves in these times," he added.