IndiaMART Q2FY24 Results: Consolidated Revenue from Operations grew by 22percent YoY to Rs. 295 Crore
2 min readFinancial Highlights (Q2 FY2024):
IndiaMARTreportedconsolidatedRevenuefromOperationsofRs.295Crorein Q2 FY24, a progress of22%YoY. StandaloneRevenuefromOperationsofIndiaMARTgrewby 23%YOYtoRs. 281Crore, primarily pushed by 12 % progress in variety of paying subscription suppliers as in contrast to final yr.Revenuefromoperationsof Busy Infotechgrewby 24%YoYtoRs. 13Crore.ConsolidatedDeferredRevenueelevated by 26%YoYtoRs. 1,244Croreas on September 30, 2023.
The Company continued making progress investments in manpower, product and expertise, gross sales and servicing ensuing into progress inincomeand paying subscription suppliers. As a end result, Standalone EBITDA stood atRs. 81Crorefor Q2 FY24 representing EBITDA margin of 29%.ConsolidatedEBITDA stood atRs. 80Crorefor Q2 FY24 representing EBITDA margin of 27%.
ConsolidatedProfit earlier than Tax was atRs. 93CroreandConsolidatedNet Profit for this quarter wasRs. 69Crorerepresenting margin of 28% and 21% respectively.
ConsolidatedCash Flow fromOperationsfor the quarter was atRs. 102Crore.ConsolidatedCash and Investments stability stood atRs. 1,910Croreas on September 30, 2023.
Operational Highlights (Q2 FY2024):
IndiaMARTregistered site visitors of 288 million and Unique enterprise enquiries of 24 million in Q2 FY24; representing aYoYprogress of 10% and 6% respectively. Supplier Storefrontsgrewto 7.7 million, a rise of 5%YoYand paying subscription suppliersgrewto 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 inincome, deferredincome, 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:ConsolidatedBasis |
| Particulars | Unit | Q2 FY24 | Q2 FY23 | Y-o-Y | Q1 FY24 | Q-o-Q |
| Total Income | (Rs.Crore) | 329 | 287 | 15% | 339 | (3%) |
| RevenuefromOperations | (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% |
| DeferredRevenue | (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
IndiaMARTInterMESH Ltd, will host earnings webinar for buyers and analysts on Friday,27thOctober 2023 at 17:00 hours IST to talk about itsoutcomesand developments for the quarter ended September 30, 2023. The senior administration of the corporate can be current to deal with the webinar.
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