IndiaMART reports 17% growth in revenue to Rs 331 crore in Q1FY25

Noida-based IndiaMART, which is India's largest B2B marketplace, recently announced its financial results for the first quarter ending June 30, 2024.

The company reported consolidated revenue from operations of Rs 331 crore, marking a 17% increase from Rs 282 crore in the same quarter last year. 

The growth includes Rs 315 crore from IndiaMART's standalone operations and Rs 15 crore from Busy Infotech, reflecting an 18% and 15% year-on-year growth, respectively.

Rise in customer collections and deferred revenue

The company's customer collections grew by 14% to Rs 366 crore for the quarter, with standalone collections contributing Rs 341 crore and Busy Infotech adding Rs 24 crore.

Deferred revenue increased to Rs 1,474 crore, a 23% year-on-year growth, primarily driven by IndiaMART's standalone deferred revenue of Rs 1,421 crore and Busy Infotech's Rs 51 crore.

Profits and cash flow 

IndiaMART reported a net profit of Rs 114 crore for Q1 FY2025, representing a 30% profit margin.

The company's cash flow from operations stood at Rs 136 crore for the quarter, with a cash and investments balance of Rs 2,319 crore as of June 30, 2024.

Standalone financial highlights

The standalone revenue from operations grew to Rs. 315 crore, an 18% increase from Rs. 268 crore in the previous year. This growth was driven by a 13% improvement in realization from paying suppliers and an increase in the number of paying suppliers.

Customer collections for the standalone business reached Rs 341 crore, while deferred revenue rose to Rs 1,421 crore, reflecting a 22% year-on-year growth.

The standalone EBITDA for the quarter was Rs 117 crore, with a 37% margin, and a net profit of Rs 124 crore, representing a 34% margin.

Operational highlights 

In Q1 FY2025, IndiaMART recorded 25 million unique business enquiries, a 15% year-on-year growth. Supplier storefronts increased by 5% to 8 million, and the number of paying suppliers grew to 216,000, with a net addition of 1,500 subscribers during the quarter.

Additionally, IndiaMART entered into an agreement to acquire a 10% stake in Baldor Technologies Private Limited (IDfy), a company providing integrated identity platform solutions for KYC, background verifications, risk mitigation, digital onboarding, and digital privacy.