Online business-to-business (B2B) marketplace Indiamart Intermesh Ltd reported an 81 percent rise in net profit to Rs 181 crore ($21.3 million), as against Rs 97 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 13 percent to Rs 355 crore, as against Rs 315 crore in the corresponding quarter of the previous fiscal year.
For the full financial year, the company’s revenue from operations stood at Rs 1,388 crore while its net profit for the year for Rs 551 crore.
Commenting on the results, Dinesh Agarwal, CEO of Indiamart in a statement said, “We are happy to close the financial year with continued growth in customers, revenue and cash flows while maintaining healthy margins in the business. We remain committed to delivering a high-quality and trusted user experience on our platform.”
“Backed by a robust business model and a clear strategic vision, we are well positioned to capitalize on the rapid pace of digital adoption across the business landscape. With consistent profitability and strong cash flows, we are continually strengthening our value proposition for stakeholders while driving sustainable long-term growth,” he added.
Indiamart B2B marketplace connects buyers with suppliers across product categories through business enablement solutions.
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