Share price of e-commerce company IndiaMART InterMESH surged over 12 percent in the morning trade on January 22 after the company reported consolidated total revenue from operations of Rs 165 crore, a 23 percent growth YoY primarily due to increase in the number of paying subscribers as well as higher realisation from existing customers.
Consolidated deferred revenue grew by 26 percent from Rs 517 crore in Q3 FY19 to Rs 649 crore in Q3 FY20.
Consolidated EBITDA for Q3 FY20 came in at Rs 44 crore, margin expansion from 21 percent in Q3 FY19 to 26 percent in Q3 FY20 partly due to an increase in revenues and adoption of IndAS 116. Consolidated EBIT for Q3 FY20 was Rs 38 crore.
Profit before tax for the quarter was at Rs 53 crore. Net profit for the quarter was at Rs 62 crore post deferred Tax credit of Rs 22.9 crore.
The company continued its growth despite the challenging business environment. "Our focus on operational efficiency has helped us improve our profitability in these times. Going forward, we are hopeful to witness an improvement in the macroeconomy, we remain committed to strengthen our business model and enhance the value proposition for our customers," said Dinesh Agarwal, CEO of the company.
The stock witnessed a spurt in volume by more than 6.29 times and traded on a new 52-week high value of Rs 2,365 per share.At 09:47 hrs, Indiamart Intermesh was quoting at Rs 2,343.30, up Rs 256.05, or 12.27 percent. It has touched a 52-week high of Rs 2,365.