IndiaMART Q1 profit jumps 77 percent YoY to Rs 83 crore

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26 Aug, 2025 12:21

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IndiaMART InterMESH, the online business-to-business (B2B) marketplace, saw its net profit jump 77 percent to Rs 83 crore in Q1FY24 from Rs 47 crore in Q1FY23, as inflation pangs softened considerably during each month of the quarter.

Other income at Rs 57 crore during the period also provided a boost in the quarter, it was at Rs 1 crore in the same quarter last year. During the same period, the company’s revenue rose 25 percent to Rs 282 crore in the three months to June, from Rs 225 crore in Q1FY23.

However, on a QoQ basis, the company's net profit jumped 46 percent from Rs 56 crore to Rs 83 crore in the three months to June, even as revenues grew at a slower pace of around 5 percent from Rs 269 crore in the March quarter to Rs 282 crore in Q1Fy24.

"We are pleased with the healthy growth in revenue, deferred revenue, cash flows along with steady operating margins as we start the new fiscal. We are confident about the continued growth and will continue to invest in technology and people to strengthen our value proposition further to accelerate digital adoption amongst businesses," Dinesh Agarwal, Chief Executive Officer, said.

The company's EBITDA margins however fell by two percentage points to 27 percent from 29 percent on a YoY basis.

"Our sustainable cashflow helps us in making these investments towards building a strong foundation to leverage emerging growth opportunities,” he added.

IndiaMART said it registered a traffic of 254 million users and 22 million unique business enquiries in Q1 FY24. At the same time, supplier storefronts grew to 7.6 million, which was an increase of 6 percent YoY.

The Noida-based company saw its paying subscription suppliers grew to 207,683 which was a net addition of 4,993 subscribers during the quarter.

Shares of IndiaMart rose 0.94 percent during the day to close at Rs 2,900.50 apiece on July 20, on the NSE.