IndiaMart InterMesh Q2 Results: Profit Nearly Doubles, Margins Improve

IndiaMart InterMesh Ltd. profit nearly doubled in the quarter ended September 2024, supported by strong growth in other income. Net profit surged 94.75% year-on-year to Rs 135.1 crore in the July-September quarter, according to an exchange filing. Revenue rose 18% during the same period to Rs 348 crore.

The company's other income surged 92% year-on-year to Rs 62 crore from Rs 32 crore a year ago.

The online B2B marketplace and discovery platform's consolidated earnings before interest, tax, depreciation, and amortisation (Ebitda), or operating profit, rose 68% on the year to Rs 134.6 crore, and Ebitda margin improved to 38.71% from 27.14% a year ago.

"We have closed the second quarter with healthy growth in revenue and operating margins along with modest growth in deferred revenue and cash flows.," the company said in the press release.

"We continue to focus on improving the experience of buyers as well as suppliers and strengthening our value proposition further," it said. "On the back of healthy cash flows and increasing internet adoption by businesses, we stay confident of the sustained profitable growth for the times to come."

During the quarter, IndiaMART registered unique business enquiries of 2.80 crore in the second quarter of fiscal 2025, representing a year-on-year growth of 14%, the company said in the filing. Supplier Storefronts grew to 80 lakhs, an increase of 5% year-on-year and paying suppliers grew to 2.18 lakh, representing a net addition of 2,400 subscribers during the quarter.

Shares of the company closed 1.81% lower at Rs 2,983.00 on Friday. On a year-to-date basis, the share price has risen more than 9%.