28, Oct 2023
IndiaMART Q2FY24 Results: Consolidated Revenue from Operations grew by 22percent YoY to Rs. 295 Crore
Financial Highlights (Q2 FY2024):
IndiaMART reported consolidated Revenue from Operations of Rs. 295 Crore in Q2 FY24, a growth of 22% YoY. Standalone Revenue from Operations of IndiaMART grew by 23% YOY to Rs. 281 Crore, primarily driven by 12 % growth in number of paying subscription suppliers as compared to last year. Revenue from operations of Busy Infotech grew by 24% YoY to Rs. 13 Crore. Consolidated Deferred Revenue increased by 26% YoY to Rs. 1,244 Crore as on September 30, 2023.
The Company continued making growth investments in manpower, product and technology, sales and servicing resulting into growth in revenue and paying subscription suppliers. As a 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 before 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 balance stood at Rs. 1,910 Crore as on September 30, 2023.
Operational Highlights (Q2 FY2024):
IndiaMART registered traffic of 288 million and Unique business enquiries of 24 million in Q2 FY24; representing a YoY growth of 10% and 6% respectively. Supplier Storefronts grew to 7.7 million, an increase of 5% YoY and paying subscription suppliers grew to 2,09,747 representing net addition of 2,064 subscribers during the quarter.
Commenting on the performance, Mr. Dinesh Agarwal, Chief Executive Officer, said:
We are happy to report continued growth in revenue, deferred revenue, and healthy operating margins in this quarter. This is the result of investments made in further strengthening our value proposition and enhancing the user experience for businesses. With the rising internet adoption and on the back of healthy cash flows, we are confident of the long-term growth and sustained value creation for all our stakeholders.
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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 period |
(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 investors and analysts on Friday,27th October 2023 at 17:00 hours IST to discuss its results and developments for the quarter ended September 30, 2023. The senior management of the company will be present to address the webinar.
- 0
- By Rabindra
