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IndiaMART InterMESH Ltd announces 1st quarter FY20 results

Posted On : 2019-07-31 18:44:02( TIMEZONE : IST )

IndiaMART InterMESH Ltd announces 1st quarter FY20 results

IndiaMART InterMESH Limited (referred to as "IndiaMART" or the "Company"), today announced its financial results for the first quarter ending June 30, 2019.

Highlights for the Quarter ended June 30, 2019:

IndiaMART reported consolidated Total Income ofRs. 162 Crores, 37% growth YoY, primarily driven by increase in revenue from operations. Consolidated Revenue from operations grew by 30% on YoY basis due to increase in number of paying subscribers as well as higher realization from existing customers. Consolidated Deferred Revenue grew by 32% from Rs. 461 Crores in Q1 FYI9 to Rs. 610 Crore in Q1 FY20 Crore leading to much better visibility for revenues in future.

Consolidated EBITDA for Q1 FY20 was Rs. 37 Crore representing a margin expansion from 11% in Q1 FY 19 to 25% in Q1 FY20, owing to increase in revenue and optimum utilization of resources. Consolidated Net Profit for the period stood at Rs. 32 Crores representing a margin of20% as compared to loss of Rs. 56 Crore in Q1 FYI9.

The Company generated consolidated Cash Flow from Operations of Rs. 54 Crore leading to Cash and Investments of Rs. 746 Crore as on June 30, 2019 as compared to 448 Crore on June 30, 2018, an increase of 67% YoY.

Commenting on the performance, Mr. Dinesh Agarwal, Managing Director, said: "We are pleased to report results for the first quarter ending June 2019. Our growth is a result of focus on execution and measures undertaken towards enhancing buyer and supplier experience. We are continuously investing in expanding our network, enhancing our technological capabilities and acquiring the best minds from the industry. We are hopeful that these measures would hold us in good stead going forward as well."

Source : Equity Bulls