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IndiaMart Q4 results: Net profit jumps 78% to Rs 99.6 crore, revenue up 17%

IndiaMart Q4FY24 results: The company has recommended a final dividend of Rs 20 per equity share of face value of Rs 10 each for the financial year 2023-24

IndiaMart

IndiaMart

Vasudha Mukherjee New Delhi

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IndiaMart InterMesh Limited on Tuesday reported a consolidated net profit of Rs 99.6 crore for the quarter ending on March 31 in the financial year 2024 (Q4 FY24). This was a 78.49 per cent jump in profits compared to the same period last year at Rs 55.8 crore.

Consolidated revenue of the company went up 17 per cent at Rs 314.7 crore, from Rs 268.8 crore reported in Q4 FY23.

Consolidated cash generated from operations at Rs 260 crore in Q4, the company said. For the entire financial year, consolidated cash generated from operations was Rs 559 crore.

"Collections from customers grew by 16 per cent to Rs 484 crore for the quarter, primarily comprising standalone collections of Rs 465 crore and Busy Infotech Collections of Rs 18 crore representing a growth of 16 per cent and 24 per cent respectively," the company said in an exchange filing.

For the entire financial year, consolidated net profit stood at Rs 334 crore, up 17.69 per cent year-on-year from Rs 283.8 crore.

The consolidated revenue of the company for FY24 was Rs 1,196.8 crore, up 21.45 per cent from Rs 985.4 crore from the end of FY23.

Commenting on the financial results of the company, chief executive officer Dinesh Agarwal said, "We have closed the financial year with steady growth in revenue, deferred revenue, profits, and cash flows. Our focus remains on enabling more and more businesses to grow online by providing them with a great product and customer experience. On the back of strong cash flow from operations and continued investments in further strengthening our value proposition, we remain confident of sustained profitable growth amidst rising internet adoption amongst businesses."

The company has recommended a final dividend of Rs 20 per equity share of face value Rs 10 each for FY24, subject to the approval of shareholders at the Annual General Meeting.

Shares of IndiaMart closed trading at Rs 2,648.20 ahead of the company's Q4 FY24 financial results.

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First Published: Apr 30 2024 | 4:18 PM IST

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