Indiamart records earnings of Rs 31.4 cr in Q1, FY'20

New Delhi, July 31 () The business-to-business e-commerce company Indiamart Intermesh posted a consolidated profit of Rs 31.4 million for the quarter ended June 30, 2019.

The company had recorded a loss of Rs 56.7 million in the same period a year ago.

Indiamart's total consolidated revenue increased by Rs 161.6 million to Rs 161.6 million during the reported quarter of Rs 117.5 Rs in the corresponding period of 2018-19.

Consolidated revenue from operations grew 30 percent year-on-year due to the increase in the number of subscribers they pay, as well as a greater realization of existing customers.

Consolidated deferred revenue grew 32 percent from Rs 461 rupees in the first quarter of fiscal year 2019 to Rs 610 million rupees in the first quarter of fiscal year 2020 Crore, which led to much better visibility of revenues in the future, Indiamart said in a statement.

Payment subscription providers increased to 1.32 lakh from 1.13 lakh on a year-on-year basis. Our growth is the result of the focus on execution and the measures taken to improve the experience of the buyer and the supplier. We are continuously investing in the expansion of our network, improving our technological capabilities and acquiring the best minds in the industry, Indiamart Intermesh, Managing Director, Dinesh Agarwal said. PRS MR MR

comments