IndiaMART InterMESH hit a high at 3.98% to Rs 4654.75 after the consolidated net profit of the company jumped 61% to Rs 113 crore on a 34% increase in net sales to Rs 251 crore in October-December of FY23 over October-December of FY22.

The revenue growth was primarily driven by a 24% increase in the number of paying subscription suppliers and the addition of Rs 10 crore in revenue from accounting software services. Consolidated deferred revenue increased by 29% YoY to Rs 1,015 crore on December 31, 2022.

The company makes growth investments in product, technology, sales, workforce and servicing, resulting in growth in revenue and paying subscription suppliers.

On a consolidated basis, profit before tax (PBT) hit a high 63% YoY to Rs 152 crore in October-December of FY23.

The other income surged 367% YoY to Rs 102 crore primarily due to a one-time realised and unrealised gain of Rs 67 crore on measurement and sale of investment in other entities.

EBITDA was Rs 70 crore (down 11% YoY). The EBITDA margin for the October-December quarter of FY23 stood at 28%, lower than 42% in the October-December quarter of FY22. EBIT for the period was Rs 62 crore (down 19% YoY) with an EBIT margin of 25% in the October-December quarter of FY23 as against 40% in the October-December quarter of FY22. Yearly, total expenses climbed 60% YoY to Rs 174 crore. Workforce cost jumped 58%, while outsourced sales cost surged 83%.

This company deals with online B2B marketplace for business products and services.