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IndiaMART InterMESH Limited reports earnings for Q1 FY2022
Posted On : 2021-07-22 17:13:01( TIMEZONE : IST )
IndiaMART InterMESH Limited (referred to as "IndiaMART" or the "Company"), today announced its financial results for the first quarter ending June 30, 2021.
Financial Highlights (Q1 FY2022):
IndiaMART reported 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 number of paying subscription suppliers. Consolidated Deferred Revenue increased from Rs. 628 Crore in Q1 FY21 to Rs. 715 Crore in Q1 FY22.
Consolidated EBITDA was Rs. 89 Crore as compared to Rs. 73 Crore in Q1 FY21. EBITDA margin for Q1 FY22 stood at 49%. Consolidated EBIT for the period was Rs. 85 Crore. EBIT margin increased to 47% in Q1 FY22 from 45% in Q1 FY21.
Profit before Tax was at Rs.112 Crore and Net Profit was Rs.88 Crores, representing margins of 53% and 42% respectively.
Consolidated Cash Flow from Operations for the quarter was at Rs. 61 Crore, Cash and Investments balance stood at Rs. 2,421 Crore as on June 30, 2021, as compared to Rs. 954 Crore on June 30, 2020, an increase of 154% YoY.
Operational Highlights (Q1 FY2022):
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%.
Commenting on the performance, Mr. 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."
