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IndiaMart Q3 results: Consolidated net profit drops 27% to Rs 82 crore

IndiaMart's revenue from operations jumped 21 per cent to Rs 305 crore in the December quarter of the current financial year

IndiaMart

Nandini Singh New Delhi

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IndiaMart's consolidated net profit dropped 27 per cent to Rs 82 crore in the December quarter of the current financial year, the online business-to-business (B2B) marketplace said in an exchange filing on Thursday.

On a sequential basis, the net profit has risen 18.6 per cent from Rs 69 crore in the previous September quarter.

The Noida-headquartered company's revenue from operations jumped 21 per cent to Rs 305 crore for the reporting period. It was Rs 251 crore in the corresponding period of last year.

Operating profit, known as earnings before interest, taxes, depreciation, and amortisation (Ebitda), rose 22.4 per cent to Rs 85.9 crore, while margins were flat at 28 per cent year-on-year (YoY) for the December quarter.

The company also recorded a significant decline in other income at Rs 41.7 crore from Rs 102 crore in the same quarter a year ago.

"We continue to focus on enhancing customer experience on our platform and drive deeper penetration of paying customers across cities, enabling businesses to grow online. We remain confident of sustained profitable growth and cash flows as we leverage market opportunities amidst increasing digital adoption by businesses," said Chief Executive Officer Dinesh Agarwal.

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First Published: Jan 18 2024 | 6:04 PM IST

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