IndiaMART InterMESH Ltd- Q2 Result Press Release to be issued today
IndiaMART reports 28% YoY growth in revenue from operations
Chennai, October 22, 2019: IndiaMART InterMESH Limited (referred to as “IndiaMART” or the “Company”), today announced its financial results for the second quarter ending September 30, 2019.
Highlights for the Quarter ended September 30, 2019:
IndiaMART reported consolidated Total Revenue from Operations of Rs. 157 Crores, 28% growth YoY primarily due to increase in number of paying subscribers as well as higher realization from existing customers. Consolid ated Deferred Revenue grew by 28% from Rs. 492 Crores in Q2 FY19 to Rs. 631 Crore in Q2 FY20 Crore leading to much better visibility for revenues in future. Consolidated EBITDA for Q2 FY20 was Rs. 36 Crore represen ting a margin expansion from 18% in Q2 FY19 to 23% in Q2 FY20. Profit before tax for the quarter was at Rs 51 Crore representing a Profit before tax margin of 29% as compared to 23% in Q2 FY19.
Tax expense for the quarter was at Rs 42 Crore which included one-time impact of Rs. 31.4 Crore related to change in tax rate and law as the Company has opted to move to 25% tax regime as per the option given in Taxation Amendment Ordinance 2019. Due to the above, the consolidated Net Profit for the period stood at Rs. 9 Crores.The Company generated consolidated Cash Flow from Operations of Rs. 42 Crore leading to Cash and Investments of Rs. 780 Crore as on Sept 30, 2019 as compared to 503 Crore on Sept 30, 2018, an increase of 55% YoY.
Total business enquiries delivered witnessed an increase to 123 million from 118 million, a growth of 4%. Sup plier Storefronts grew to 5.7 million in Q2 FY20 from 5.4 million in Q2 FY19, an increase of 6% YoY. During the same period, paying subscription suppliers witnessed an increase to 137 thousand from 119 thousand, a growth of 15%.