The shares of this market-leading firm in the online B2B classifieds business surged by 9.3% to reach ₹2,893.70 per share after the company announced a 78% year-on-year increase in net profit.
At 12:25 p.m., Indiamart Intermesh Ltd shares were trading at ₹2,881.30 per share, up 8.80% on the National Stock Exchange from the previous close price. The company has a market capitalization of ₹17,207 crore.
Indiamart Intermesh Ltd announced a consolidated net profit of ₹100 crores for the quarter ending March 2024 (Q4FY24), marking a 78% rise from ₹56 crores recorded in Q4FY23. Additionally, the company’s total revenue for the same quarter surged by 17%, reaching ₹315 crores compared to ₹269 crores in the previous year’s corresponding quarter.
For the fiscal year 2023-24, the company reported a consolidated net profit of ₹1,197 Crores, up 22% from ₹985 crores in FY22-23. Similarly, the total revenue for the fiscal year grew by 18%, standing at ₹334 crores compared to ₹284 crores in the previous fiscal year. As per the company’s filing.
Compared to the previous quarter, there was a 3.09% increase in revenue and a 21.72% rise in profit.
Indiamart, the largest online B2B marketplace in India, serves as the bridge between customers and providers. The company’s primary focus lies in integrating small and Medium-Sized Enterprises (SMEs) into the evolving market landscape.
With a commanding presence, the company dominates over 60% of the online B2B classified market, establishing itself as the foremost player in the industry. Its extensive portfolio boasts 7.3 million supplier storefronts and 160 million registered buyers.
The company has strategically expanded its reach, with metropolitan areas constituting 30% of total purchasers, tier-2 cities contributing 25%, and the remaining 45% hailing from other regions of India.
Based on standalone FY24 data, the company has witnessed a 20% year-on-year increase in collections, totaling ₹1,399 crores, while deferred revenue has surged by 23% year-on-year to ₹1,395 crores. Additionally, the EBITDA margin has experienced a significant 29% year-on-year growth, reaching ₹334 crores.
As per the current shareholding structure, the promoters hold a 49.21 percent stake in the company, with domestic institutional investors owning 10.60 percent and Foreign Institutional investors holding 23.08 percent.
Written by Omkar Chitnis
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