IndiaMART’s Operations Revenue Rises By 31% In FY23, Announces Dividend Of Rs 20
IndiaMART announced its financial results for the full year and fourth quarter which shows consolidated revenue from operations of Rs 269 crore in Q4 FY23, a growth of 33 per cent YoY
IndiaMART reported consolidated Revenue from Operations of Rs 269 crore in Q4 FY23, a growth of 33 per cent YoY primarily driven by a 20 per cent increase in the number of paying subscription suppliers and the addition of Rs 12 crore revenue from accounting software services, according to the company’s release.
Consolidated Deferred Revenue increased by 28 per cent YoY to Rs 1,162 crore as of 31 March 2023.
As per the statement, the Company continued making growth investments in manpower, product and technology, sales and servicing, resulting in revenue growth and paying subscription suppliers and as a result, consolidated EBITDA was Rs 66 crore for Q4 FY23 representing an EBITDA margin of 25 per cent.
The Other Income increased to Rs 31crores primarily due to fair value gain on treasury investments. Net Profit for this quarter was Rs 56 crore representing a margin of 19 per cent.
Consolidated Cash Flow from Operations for the quarter was at Rs 209 crore.
Cash and Investments balance stood at Rs 2,335 crore as of 31 March 2023 Operational Highlights (Q4FY2023):
IndiaMART registered traffic of 252 million and Unique business enquiries of 22 million in Q4FY23. Supplier Storefronts grew to 7.5 million, an increase of 6 per cent YoY and paying subscription suppliers grew to 202,690 a net addition of 8,335 subscribers during the quarter. Total headcount increased by 170 to 4,583 at the end of the quarter with a focus on strengthening Sales and Servicing teams.
Commenting on the performance, Dinesh Agarwal, Chief Executive Officer 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 continue to invest in further strengthening our product, technology and building strong customer relationships. This remains integral to our long-term strategy to drive profitable growth and leverage our value proposition to create value for all our stakeholders.”
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