NEW DELHI, INDIA, JULY 21, 2020 (GPN): IndiaMART InterMESH Limited (referred to as “IndiaMART” or the “Company”), today announced its financial results for the first quarter ending June 30, 2020.

Financial Highlights (Q1 FY2021):   

IndiaMART reported consolidated Total Revenue from Operations of Rs. 153 Crore in Q1 FY21, a growth of 4% y-o-y, primarily driven by marginal improvement in realization of existing customers. Number of paying subscription suppliers were same as last year due to the challenging economic and market conditions amidst the Covid-19 pandemic. Consolidated Deferred Revenue grew by 3% from Rs. 610 Crore in Q1 FY20 to Rs. 628 Crore in Q1 FY21.

Consolidated EBITDA was Rs. 73 Crore as compared to Rs. 37 Crore in Q1 FY20, representing a growth of 100 % y-o-y. EBITDA margins increased to 48% in Q1 FY21 from 25% in Q1 FY20 primarily driven by various cost optimization measures leading to sustained and temporary rationalization of expenses. Consolidated EBIT was Rs. 69 Crore as compared to Rs. 32 Crores in Q1 FY20, representing a growth of 113% y-o-y. EBIT margin increased to 45% in Q1 FY21 from 22% in Q1 FY20.

Profit before Tax was at Rs. 100 Crore and Net Profit was Rs. 74 Crores, representing margins of 54% and 40% respectively.

Consolidated Cash Flow from Operations for the quarter was at Rs. 3 Crore. Cash and Investments balance stood at Rs. 954 Crore as on June 30, 2020 as compared to Rs. 746 Crore on June 30, 2019, an increase of 28% YoY.

Operational Highlights (Q1 FY2021):   

Traffic grew to 191 million in Q1 FY21 from 184 million in Q1 FY20, an increase of 4% YoY and total business enquiries delivered increased to 131 million from 113 million, a growth of 16%. Supplier Storefronts grew to 6.1 million in Q1 FY21 an increase of 8% YoY and paying subscription suppliers were 133 thousand, same as Q1 FY20. 

Commenting on the performance, Mr. Dinesh Agarwal, Chief Executive Officer, said:   

“I am pleased to report a modest financial performance this quarter as the ongoing adverse market conditions had an anticipated impact on our customers, revenue, deferred revenue and cashflow from operations. While we managed to improve profitability due to cost optimization measures, our focus remained to stand by our employees and customers during these testing times. Given the overall uncertainty of how long this continues, our strong balance sheet and a resilient business model will help us to navigate through the ongoing crisis and as the businesses realize the need of transforming themselves to online, our strong value proposition will help us in getting back to growth soon.”

Particulars	Unit	Q1 FY21	Q1 FY20	Y-o-Y Growth	Q4 FY20	Q-o-Q Growth
Total Income	(Rs. Crore)	187	162	16%	187	(0%)
Revenue from Operations	(Rs. Crore)	153	147	4%	170	(10%)
EBITDA	(Rs. Crore)	73	37	100%	52	40%
EBITDA Margin	%	48%	25%		31%
EBIT	(Rs. Crore)	69	32	113%	46	48%
EBIT Margin	%	45%	22%		27%
Other Income	(Rs. Crore)	34	14	135%	17	96%
Profit Before Tax	(Rs. Crore)	100	46	117%	61	64%
Profit Before Tax Margin	%	54%	29%		33%
Net Profit for the period	(Rs. Crore)	74	32	129%	44	67%
Net Profit Margin	%	40%	20%		24%
Cash generated from Operating Activities	(Rs. Crore)	3	54	(94%)	94	(97%)
Collections from Customers	(Rs. Crore)	96	171	(44%)	206	(54%)
Deferred Revenue	(Rs. Crore)	628	610	3%	685	(8%)
Cash and Investment	(Rs. Crore)	954	746	28%	931	3%

ENDS

About IndiaMART:

IndiaMART is India’s largest online B2B marketplace for business products and services. IndiaMART makes it easier to do business by connecting buyers and sellers across product categories and geographies in India through business enablement solutions. IndiaMART provides ease and convenience to the buyers by offering a wide assortment of products and a responsive seller base while offering lead generation, lead management and payment solutions to its sellers.