The revenue includes IndiaMART standalone revenue of Rs 315 crore and Busy Infotech revenue of Rs 15 crore, registering a growth of 18% and 15%, respectively, on YoY basis.
Collections from Customer grew by 14% to Rs. 366 crore for the quarter. Deferred Revenue as on June 30, 2024 increased to Rs 1,474 crore representing a YoY growth of 23%.
EBITDA improved by 55% YoY to Rs 120 crore in the first quarter. EBITDA Margin for Q1 FY25 was 36% as against 27% in Q1 FY24.
Profit before tax in Q1 FY25 stood at Rs 151.40 crore, up by 34.7% from Rs 112.40 crore posted in Q1 FY24.
On a standalone basis, IndiaMART has reported a PAT of Rs 124 crore (up 30% YoY and a revenue of Rs 315 crore (up 18% YoY).
The company’s paying supplied base stood at 216 thousand at the end of Q1 FY25 as against 214 thousand at the end of Q4 FY24 and 208 thousand at the end of Q1 FY24.
In June’24 quarter, the company added 1,519 paying suppliers. It had 2,683 paying suppliers in Q4 FY24 and 2,683 paying suppliers in Q1 FY24.
During Q1 FY25, IndiaMART experienced a decline in traffic, which fell to 267 million from 269 million recorded at the end of the March’24 quarter. Traffic for Q1 FY24 was 254 million.
IndiaMART registered Unique business enquiries of 25 million in Q1 FY25, representing a YoY growth of 15%. Supplier Storefronts grew to 8 million, an increase of 5% YoY during the quarter.
Further during the quarter, IndiaMART has got into agreement to acquire 10% stake in Baldor Technologies (IDfy), which is an integrated identity platform offering products and solutions for KYC, background verifications, risk mitigation, digital onboarding and digital privacy.
Dinesh Agarwal, chief executive officer, said: “We are happy to start the financial year on a positive note with a steady growth in revenue and deferred revenue, along with expansion in the operating margins.
On the back of strong balance sheet and sustained cash flows, we will continue to make investments to further strengthen our value proposition, improving customer experience and leveraging growth opportunities. We are confident of the sustained long term profitable growth as more and more businesses adopt internet to grow themselves.”
IndiaMART is India’s largest online B2B marketplace for business products and services. IndiaMART makes it easier to do business by connecting buyers and sellers across product categories and geographies in India through business enablement solutions. IndiaMART provides ease and convenience to the buyers by offering a wide assortment of products and a responsive seller base while offering lead generation, lead management and payment solutions to its sellers.
The scrip tumbled 6.01% to currently trade at Rs 2957.35 on the BSE.