Collections from customers grew to Rs. 332 crore for the quarter
New Delhi: B2B online marketplace Indiamart has announced the financial results of the third quarter ending December 31, a release by the company said on Thursday.
The consolidated revenue from operations was Rs. 305 crore, year-on-year (Y-o-Y) growth of 21%. The standalone revenue from operations was Rs 291 crore, Y-o-Y of 21%. The company’s standalone EBITDA was Rs 87 crore representing an EBITDA margin of 30% and the consolidated cash generated from operations stood at Rs 106 crore according to the release.
Indiamart standalone revenue stood at Rs 291 crore and its busy infotech revenue of Rs 13 crore, registering a growth of 21% and 26% respectively on a Y-o-Y basis.
Collections from customers grew to Rs. 332 crore for the quarter and deferred revenue as of December 31, 2023, increased to Rs. 1,270 crore representing a YoY growth of 25%. Net Profit for the quarter was at Rs. 82 crore representing a margin of 24%.
Cash flow from operations for the quarter was at Rs. 106 crore. Cash and investments balance stood at Rs. 2,039 crore as of December 31, 2023.
Indiamart registered traffic of 272 million and unique business enquiries of 23 million in Q3 FY24; representing a Y-o-Y growth of 9% and 4% respectively. Supplier storefronts grew to 7.8 million, an increase of 5% YoY and paying subscription suppliers grew to 2,12,000 representing a net addition of 1,826 subscribers during the quarter.
“We are pleased to report modest growth in revenue, deferred revenue, and healthy operating margins in the third quarter. 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,” said Dinesh Agarwal, chief executive officer (CEO).
Founded in the late 1990s, Indiamart is an online B2B marketplace for business products and services. Indiamart connects buyers and sellers across product categories and geographies in India through business enablement solutions.
