B2B marketplace Indiamart Intermash Ltd reported a 37 percent rise in net profit to Rs 114 crore ($13.7 million) for the first quarter ended June 30, as against Rs 83 crore in the corresponding quarter of the previous fiscal year.
The company’s revenue for the quarter increased by 17 percent to Rs 331 crore, as against Rs 282 crore in the year-ago quarter.
Commenting on the results, Dinesh Agarwal, CEO of Indiamart in a statement said, “We are happy to start the financial year on a positive note with a steady growth in revenue and deferred revenue, along with expansion in the operating margins. On the back of a strong balance sheet and sustained cash flows, we will continue to make investments to further strengthen our value proposition, improving customer experience and leveraging growth opportunities.”
“We are confident of the sustained long-term profitable growth as more and more businesses adopt the internet to grow themselves,” 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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