IndiaMART garners Q1 PAT of Rs88cr, revenue rises 19% yoy as realization from existing customers improve and higher suppliers

Consolidated Deferred Revenue increased from Rs628cr in Q1 FY21 to Rs715cr in Q1 FY22.

Jul 23, 2021 02:07 IST India Infoline News Service

IndiaMART InterMESH has reported a consolidated net profit of Rs88cr for the quarter ended June 2021 (Q1FY22) rising by 19% yoy. The Q1 PAT represents a margin of 42%.

While the company posted a consolidated Total Revenue from Operations of Rs. 182 Crore in Q1 FY22, a growth of 19% y-o-y due to improvement in realization from existing customers and increase in the number of paying subscription suppliers. Consolidated Deferred Revenue increased from Rs628cr in Q1 FY21 to Rs715cr in Q1 FY22.

Consolidated EBITDA was Rs. 89 Crore as compared to Rs73cr in Q1 FY21. EBITDA margin for Q1 FY22 stood at 49%. Consolidated EBIT for the period was Rs85cr. EBIT margin increased to 47% in Q1 FY22 from 45% in Q1 FY21.

Dinesh Agarwal, Chief Executive Officer, said, "We have been able to navigate the disruptions caused by the second wave of covid, much better than the last year and have sustained a profitable growth in this quarter. Our focus had been to continue supporting customers as well as employees in the times that had been personally challenging to many. As the overall demand environment improves, because of our strong network effect, financial position and investments in strengthening the value proposition, we will continue supporting businesses transforming themselves to online and capitalize on the new growth opportunities arising from the accelerated adoption of the internet."

IndiaMART sustained buyer traffic of 268 million in Q1 FY22 and business enquiries of 162 million in Q1 FY22 during the challenging second wave of Covid-19. Paying subscription suppliers grew to 146 thousand, a growth of 9%.

At around 2.23 PM, IndiaMart was trading at Rs7175.40 per piece up by Rs164.70 or 2.4% on Sensex. The stock has touched an intraday high of Rs7359.80 per piece in early deals.

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