IndiaMART trades flat after Q2 PAT declines 55% yoy

However, the company’s revenue from operations was up by 28% to Rs157cr from Rs122cr in the year-ago period.

Oct 23, 2019 03:10 IST India Infoline News Service

IndiaMart
IndiaMART InterMESH Limited (referred to as “IndiaMART” or the “Company”), posted a 55% decline in consolidated net profit at Rs9cr in Q2FY20. The company had posted a profit of Rs20cr during the same period of 2018-19.

However, the company’s revenue from operations was up by 28% to Rs157cr from Rs122cr in the year-ago period.

Shares of Indiamart Intermesh Ltd is currently trading at Rs2,042.75, up by Rs11.9 or 0.59% from its previous closing of Rs2,030.85 on the BSE.

Total business enquiries delivered witnessed an increase to 123 million from 118 million, a growth of 4%.

The consolidated EBITDA for Q2FY20 was Rs36cr representing a margin expansion from 18% in Q2FY19 to 23% in Q2FY20.

Tax expense for the quarter was at Rs42cr which included the one-time impact of Rs31.4cr related to change in tax rate and law as the Company has opted to move to 25% tax regime as per the option is given in Taxation Amendment Ordinance 2019.

The Company generated consolidated Cash Flow from Operations of Rs42cr leading to Cash and Investments of Rs780cr as on Sept 30, 2019, as compared to Rs503cr on Sept 30, 2018, an increase of 55% yoy.

Dinesh Agarwal, Chief Executive Officer said, “we are pleased to report results for the quarter ending September 2019 on expected lines, showcasing continued growth. The results are a reflection of our well-diversified business model and unique value proposition that we have developed over the years. Going forward, as we continue to steer ourselves in the challenging macro environment, we remain cautiously optimistic of maintaining the growth momentum.”

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