India's largest online business-to-business marketplace Indiamart Intermesh Ltd has reported consolidated total revenue from operations of Rs 165 crore in the third quarter of current fiscal year, marking a 23 per cent growth in the year-ago period.
This was primarily due to an increase in number of paying subscribers as well as higher realisation from existing customers. The consolidated deferred revenue grew by 26 per cent from Rs 517 crore in Q3 FY19 to Rs 649 crore in Q3 FY20 crore, leading to better visibility for revenues in future.
Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) for Q3 FY20 was Rs 44 crore representing a margin expansion from 21 per cent to 26 per cent, partly due to increase in revenues and adoption of IndAS 116.
Consolidated earnings before interest and taxes (EBIT) was Rs 38 crore representing a margin expansion from 20 per cent in Q3 FY19 to 23 per cent in Q3 FY20.
Profit before tax for the quarter was at Rs 53 crore representing a profit before tax margin of 29 per cent. Net profit for the quarter was at Rs 62 crore post-deferred tax credit of Rs 22.9 crore on account of certain timing differences pertaining to the earlier years.
The company generated consolidated cash flow from operations of Rs 71 crore leading to cash and investments of Rs 859 crore as on December 31, 2019 as compared to Rs 574 crore on December 31, 2018, an increase of 50 per cent year-on-year.
Traffic grew to 188 million in Q3 FY20 from 173 million in Q3 FY19, marking an increase of 9 per cent. However, total business enquiries delivered witnessed a marginal decline to 112 million from 120 million, a de-growth of 6 per cent.
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Supplier storefronts grew to 5.9 million in Q3 FY20, an increase of 8 per cent year-on-year.
Chief Executive Officer Dinesh Agarwal said 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," he said in a statement.
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