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IndiaMART registers growth of 24% YoY on Consolidated Revenue from Operations

* The company announced the Q1 2023 results; witnesses 23% YoY increase in paying subscription suppliers and 34% YoY increase in Consolidated Deferred Revenue

IndiaMARTInterMESH Limited (referred to as “IndiaMART” or the “Company”), today announced its financial results for the first quarter ending June 30, 2022.

Q1 FY2023 vs. Q1 FY2022

* Consolidated Revenue from Operations of Rs. 225 Crore, YoY growth of 24%

* Consolidated EBITDA of Rs. 64Crore

* Consolidated Cash generated from Operations at Rs. 75 Crore

Financial Highlights (Q1 FY2023):

IndiaMART reported consolidated Total Revenue from Operations of Rs. 225 Crore in Q1 FY23, a growth of 24% YoYprimarily driven by 23% increase in number of paying subscription suppliers and addition of Rs.10.53 Crorerevenue from accounting software services.Consolidated Deferred Revenue increased by 34% YoYto Rs. 961 Crore as on June 30, 2022.

The Company continued making growth investments in manpower, product and technology, sales and servicing resulting into growth in revenue and paying subscription suppliers. As a result, consolidated EBITDA was Rs. 64 Crore for Q1 FY23 representing EBITDA margin of 29%. Expenses for the quarter also included one-time cost of Rs.4.07 Crore related to acquisition of Busy Infotech Private Limitedand Finlite Technologies Private Limited, which have been consummatedduring the quarter. Net Profit for thisquarter was Rs.47 Crore representing margin of 21%.

Consolidated Cash Flow from Operations for the quarter was at Rs. 75 Crore.Cash and Investments balance stood at Rs. 1,882Crore as on June30, 2022.

Operational Highlights (Q1 FY2023):

IndiaMART registered traffic of 257 million and Total business enquiries of 115million during Q1 FY23. Supplier Storefronts grew to 7.2million, an increase of 10% YoY and paying subscription suppliers grewby 23% YoYto 179,260 with a net addition of 9,936 paying subscription suppliers during the quarter.

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

“We are starting the fiscal year on a positive note as the quarter registered modest all-round profitable growth and improvement in overall demand environment. We continue to make investments in strengthening our value proposition as well as building the organization to further accelerate digital transformation of businesses. We look forward to capitalizing the emerging opportunities arising from the increasing adoption of the internet on the back of investments made in the recent quarters as well as a strong balance sheet.”

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