IndiaMART revenue from operations of Rs 163 Crore
YoY growth of 4pc
New Delhi: IndiaMART InterMESH Limited (referred to as “IndiaMART” or the “Company”), today announced its financial results for the second quarter ending September 30, 2020.
Financial Highlights (Q2 FY2021):
IndiaMART reported consolidated Total Revenue from Operations of Rs. 163 Crore in Q2 FY21, a growth of 4% y-o-y, supported by marginal improvement in realization of existing customers and increase in number of paying subscription suppliers amidst the ongoing Covid-19 pandemic. Consolidated Deferred Revenue declined marginally from Rs. 631 Crore in
Q2 FY20 to Rs. 628 Crore in Q2 FY21.
Consolidated EBITDA was Rs. 82 Crore as compared to Rs. 36 Crore in Q2 FY20. Increase in EBITDA margin to 50% in Q2 FY21 from 23% in Q2 FY20 was primarily driven by sustained as well as temporary benefits arising from various cost optimization initiatives undertaken during last six months. Consolidated EBIT was Rs. 77 Crore as compared to Rs. 31 Crores in Q2 FY20, representing a growth of 147% y-o-y. EBIT margin increased to 47% in Q2 FY21 from 20% in Q2 FY20.
Profit before Tax was at Rs. 93 Crore and Net Profit was Rs. 70 Crores, representing margins of 51% and 39% respectively.
Consolidated Cash Flow from Operations for the quarter was at Rs. 78 Crore. Cash and Investments balance stood at Rs. 1,045 Crore as on September 30, 2020 as compared to Rs. 780 Crore on September 30, 2019, an increase of 34% YoY.
Operational Highlights (Q2 FY2021):
IndiaMART registered a traffic growth of 32% YoY with 259 million in Q2 FY21 as compared to 196 million in Q2 FY20. Total business enquiries delivered increased to 175 million from 123 million, a growth of 42%. Supplier Storefronts grew to 6.2 million in Q2 FY21, an increase of 9% YoY and paying subscription suppliers grew to 141 thousand, a growth of 3%.
Commenting on the performance, Mr. Dinesh Agarwal, Chief Executive Officer, said: “As we navigate through these unprecedented times and a volatile environment, we are happy to report a moderate financial performance in this quarter. With the pick up in business activity and increasing realization for online adoption by the small and medium businesses, our revenue and customers have shown a positive recovery trend and helped us to maintain healthy margins as well as cashflows. Our investments in the product over the last couple of years has strengthened the value proposition for our customers and hold us in good stead to leverage the emerging market opportunities in these tough times.’’