April 15, 2021

Indiamart Q3 outcomes: Internet revenue up 29% at Rs 80 cr

B2B e-commerce agency Indiamart Intermesh on Monday posted a 29 per cent rise in its consolidated web revenue to Rs 80 crore for the third quarter ended December 31, 2020.

The corporate had reported a web revenue of Rs 62 crore within the year-ago interval, a regulatory submitting stated.

Its income from operations stood at Rs 174 crore within the third quarter of 2020-21, up 5 per cent from Rs 165 crore within the corresponding interval final fiscal, it added.

It attributed this progress to “marginal enchancment in realisation of present clients and enhance in variety of paying subscription suppliers”.

Indiamart Intermesh Chief Govt Officer Dinesh Agarwal stated, “We’re happy to report a resilient monetary efficiency this quarter with regular restoration within the enterprise parameters whereas sustaining wholesome margins and cashflows.”

He added that the agency sees enchancment in general demand surroundings and enterprise exercise. “Our robust worth proposition, buyer relationships and stability sheet make us assured of supporting companies of their transformation to on-line.”

He added that with the rising accelerated digitisation wants of companies, the corporate is wanting ahead to kick-starting the brand new yr on an optimistic be aware.

The corporate stated its consolidated deferred income declined from Rs 649 crore within the third quarter of FY20 to Rs 633 crore within the December quarter of FY21.

On a sequential foundation, the web revenue was greater by 15 per cent from Rs 70 crore, whereas income was greater by 6 per cent from Rs 163 crore within the September 2020 quarter.