Shares of IndiaMART InterMESH Ltd surged more than 17% on Wednesday, hitting a 52-week high of Rs 2,458.00 apiece, a day after the company reported its third-quarter earnings.
IndiaMART reported consolidated revenue from operations of Rs 165 crore, up 23% year-on-year, primarily due to an increase in a number of paying subscribers as well as a higher realization from existing customers.
The company’s consolidated deferred revenue rose 26% at Rs 649 crore. IndiaMART’s consolidated EBITDA for Q3 FY20 increased by 26% at Rs 44 crore. Profit before tax for the third quarter was up 29% at Rs 53 crore, while net profit was Rs 62 crore post deferred tax credit of Rs 22.9 crore.
The company generated consolidated cash flow from operations of Rs71 Crore, leading to cash and investments of Rs859 Crore as on 31 December 2019 compared with Rs574 crore on December 31, 2018. Website traffic grew to 188 million in Q3 FY20 from 173 million in Q3 FY19, an increase of 9% YoY. Total business enquiries delivered, however, fell to 112 million from 120 million. Supplier Storefronts grew to 5.9 million in Q3 FY20 an increase of 8% YoY and paying subscription suppliers grew to 141.6 thousand, a growth of 15%.
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