Indiamart Intermesh Limited reported a 78 percent rise in net profit to Rs 100 crore ($12.2 million) for the fourth quarter ending on March 31, as against Rs 56 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 17 percent to Rs 315 crore, as against Rs 269 crore reported in the corresponding quarter of the previous fiscal year.
For the full financial year, the company’s net profit stood at Rs 334 crore while its revenue was at Rs 1,196 crore.
Commenting on the results, Dinesh Agarwal, CEO of Indiamart in a statement said, “We have closed the financial year with steady growth in revenue, deferred revenue, profits, and cash flows. Our focus remains on enabling more and more businesses to grow online by providing them with a great product and customer experience.”
“On the back of strong cash flow from operations and continued investments in further strengthening our value proposition, we remain confident of sustained profitable growth amidst rising internet adoption amongst businesses,” he added.
Indiamart is a business-to-business marketplace that connects buyers with suppliers with a market share of 60 percent.
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