The revenue includes IndiaMART standalone revenue of Rs 337 crore and Busy Infotech revenue of Rs 16 crore, registering a growth of 16% and 30%, respectively, on YoY basis.
Collections from Customer grew by 10% to Rs 363 Crore for the quarter, primarily comprising of standalone collections of Rs 341 crore and Busy Infotech collections of Rs 20 crore.
Profit before tax in Q3 FY25 stood at Rs 161 crore, up by 35% from Rs 119 crore in Q3 FY24.
Deferred revenue as on 31 December 2024 increased to Rs 1,492 crore, representing a YoY growth of 17% but remained flat as compared with Q2 FY24. This primarily includes IndiaMART standalone deferred revenue of Rs 1,430 crore and Busy Infotech deferred revenue of Rs 57 crore.
IndiaMART registered unique business enquiries of 27 million in Q3 FY25, representing a YoY growth of 17%. Supplier storefronts grew to 8.2 million, an increase of 5% YoY, and paying suppliers as at the end of the quarter were 214K, up 1% YoY but down 2% on a sequential basis.
Cash flow from operations for the quarter was Rs 114 crore. Cash and investments balance stood at Rs 2,606 crore as on 31 December 2024.
Dinesh Agarwal, chief executive officer, said: “This quarter, we saw healthy growth in revenue and operating margins, along with a modest increase in deferred revenue and cash flow.
We continue to focus on onboarding quality suppliers, improving matchmaking relevancy, and enhancing the overall user experience on our platform.”
A foreign brokerage has reportedly downgraded Indiamart Intermesh to 'neutral'. The brokerage reportedly stated that the decision to downgrade the stock follows an unexpected decline in the company's paying subscriber base and weak gross customer additions. Additionally, high customer churn raises concerns about future growth. The brokerage reportedly anticipates that collections could remain weak in the near to medium term.
IndiaMART is India's largest online B2B marketplace for business products and services. The company connects buyers and sellers across product categories and geographies in India through business enablement solutions.
The scrip slumped 7.19% to currently trade at Rs 2128.60 on the BSE.