IndiaMART Q2FY24 Results: Consolidated Revenue from Operations grew by 22percent YoY to Rs. 295 Crore
2 min readFinancial Highlights (Q2 FY2024):
IndiaMART reported consolidated Revenue from Operations of Rs. 295 Crore in Q2 FY24, a progress of 22% YoY. Standalone Revenue from Operations of IndiaMART grew by 23% YOY to Rs. 281 Crore, primarily pushed by 12 % progress in variety of paying subscription suppliers as in contrast to final yr. Revenue from operations of Busy Infotech grew by 24% YoY to Rs. 13 Crore. Consolidated Deferred Revenue elevated by 26% YoY to Rs. 1,244 Crore as on September 30, 2023.
The Company continued making progress investments in manpower, product and expertise, gross sales and servicing ensuing into progress in income and paying subscription suppliers. As a end result, Standalone EBITDA stood at Rs. 81 Crore for Q2 FY24 representing EBITDA margin of 29%. Consolidated EBITDA stood at Rs. 80 Crore for Q2 FY24 representing EBITDA margin of 27%.
Consolidated Profit earlier than Tax was at Rs. 93 Crore and Consolidated Net Profit for this quarter was Rs. 69 Crore representing margin of 28% and 21% respectively.
Consolidated Cash Flow from Operations for the quarter was at Rs. 102 Crore. Consolidated Cash and Investments stability stood at Rs. 1,910 Crore as on September 30, 2023.
Operational Highlights (Q2 FY2024):
IndiaMART registered site visitors of 288 million and Unique enterprise enquiries of 24 million in Q2 FY24; representing a YoY progress of 10% and 6% respectively. Supplier Storefronts grew to 7.7 million, a rise of 5% YoY and paying subscription suppliers grew to 2,09,747 representing web addition of two,064 subscribers throughout the quarter.
Commenting on the efficiency, Mr. Dinesh Agarwal, Chief Executive Officer, stated:
We are glad to report continued progress in income, deferred income, and wholesome working margins on this quarter. This is the results of investments made in additional strengthening our worth proposition and enhancing the consumer expertise for companies. With the rising web adoption and on the again of wholesome money flows, we’re assured of the long-term progress and sustained worth creation for all our stakeholders.
|
Q2 FY2024 Performance Metrics: Consolidated Basis |
| Particulars |
Unit |
Q2 FY24 |
Q2 FY23 |
Y-o-Y
|
Q1 FY24 |
Q-o-Q |
|
|
|
|||||
| Total Income |
(Rs. Crore) |
329 |
287 |
15% |
339 |
(3%) |
|
|
|
|||||
| Revenue from Operations |
(Rs. Crore) |
295 |
241 |
22% |
282 |
4% |
|
|
|
|||||
| EBITDA |
(Rs. Crore) |
80 |
67 |
19% |
77 |
3% |
| EBITDA Margin |
% |
27% |
28% |
|
27% |
|
|
|
|
|||||
| Other Income |
(Rs. Crore) |
35 |
47 |
(26%) |
57 |
(39%) |
|
|
|
|
|
|
||
| Profit Before Tax |
(Rs. Crore) |
93 |
93 |
1% |
112 |
(17%) |
| Profit Before Tax Margin |
% |
28% |
32% |
|
33% |
|
|
|
|
|||||
| Net Profit for the interval |
(Rs. Crore) |
69 |
68 |
2% |
83 |
(17%) |
| Net Profit Margin |
% |
21% |
24% |
|
25% |
|
|
|
|
|||||
| Collections from Customers |
(Rs. Crore) |
337 |
264 |
28% |
321 |
5% |
|
|
|
|||||
| Cash generated from Operating Activities |
(Rs. Crore) |
102 |
78 |
31% |
91 |
12% |
|
|
|
|||||
| Deferred Revenue |
(Rs. Crore) |
1,244 |
984 |
26% |
1,202 |
4% |
| Cash and Investments |
(Rs. Crore) |
1,910 |
1,975 |
(3%) |
2,394 |
(20%) |
| Paying Subscription Suppliers
|
(In Thousands) |
210 |
188 |
12% |
208 |
1% |
Q2 FY24 Earnings Conference Call
IndiaMART InterMESH Ltd, will host earnings webinar for buyers and analysts on Friday,27th October 2023 at 17:00 hours IST to talk about its outcomes and developments for the quarter ended September 30, 2023. The senior administration of the corporate can be current to deal with the webinar.
Praveen
