IndiaMART jumps over 17%, hits 52-week on robust Q3 numbers

1 min read 22 Jan 2020, 11:03 AM IST Devansh Sharma

IndiaMART reported consolidated revenue from operations of ₹165 crore
Profit before tax for the third quarter was up 29% at ₹53 crore

IndiaMart InterMesh Ltd., the country’s largest online platform for businesses, is trading 78% higher than its July IPO. (Photo: Mint) — IndiaMart InterMesh Ltd., the country’s largest online platform for businesses, is trading 78% higher than its July IPO. **(Photo: Mint)**

NEW DELHI : Shares of IndiaMART InterMESH Ltd surged more than 17% on Wednesday, hitting a 52-week high of ₹2,458.00 apiece, a day after company reported its third quarter earnings.

IndiaMART reported consolidated revenue from operations of ₹165 crore, up 23% year-on-year, primarily due to an increase in number of paying subscribers as well as higher realization from existing customers.

The company’s consolidated deferred revenue rose 26% at ₹649 crore. IndiaMART’s consolidated EBITDA for Q3 FY20 increased 26% at ₹44 crore.

Profit before tax for the third quarter was up 29% at ₹53 crore, while net profit was ₹62 crore post deferred tax credit of ₹22.9 crore.

The company generated consolidated cash flow from operations of Rs71 Crore, leading to cash and investments of Rs859 Crore as on 31 December, 2019 compared with Rs574 crore on December 31, 2018.

Website traffic grew to 188 million in Q3 FY20 from 173 million in Q3 FY19, an increase of 9% YoY. Total business enquiries delivered, however, fell to 112 million from 120 million. Supplier Storefronts grew to 5.9 million in Q3 FY20 an increase of 8% YoY and paying subscription suppliers grew to 141.6 thousand, a growth of 15%.

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