Indiamart Ltd Q2 net profit jumps 95 percent to Rs 135 crore

Online business-to-business marketplace Indiamart Intermesh Ltd reported a 95 increase in net profit to Rs 135 crore ($16.1 million) for the second quarter ended September30, as against Rs 69 crore in the year-ago quarter.

The company’s revenue for the quarter rose by 49 percent to Rs 348 crore, as against Rs 295 crore in the corresponding quarter of the previous fiscal year.

Commenting on the results, Dinesh Agarwal, CEO of Indiamart in a statement said, “We have closed the second quarter with healthy growth in revenue and operating margins along with modest growth in deferred revenue and cash flows. We stay committed to the vision of ‘make doing business easy’ and enable businesses to grow online.”

“We continue to focus on improving the experience of buyers as well as suppliers and strengthen our value proposition further. 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,” he added.

Indiamart is a business-to-business marketplace that connects buyers with suppliers across product categories through business enablement solutions.