IndiaMART registered traffic of 252 million and unique business enquiries of 22 million in Q4 FY23.
Noida, Apr 28 (The CONNECT) - IndiaMART InterMESH Limited has clocked consolidated Revenue from Operations of Rs. 269 Crore in Q4 FY23, a growth of 33% YoY primarily driven by 20% increase in number of paying subscription suppliers and addition of Rs. 12 Crore revenue from accounting software services.
The company’s consolidated deferred revenue increased by 28% YoY to Rs. 1,162 Crore as on March 31, 2023.
The Company continued making growth investments in manpower, product and technology, sales and servicing resulting into growth in revenue and paying subscription suppliers. As a result, consolidated EBITDA was Rs. 66 Crore for Q4 FY23 representing EBITDA margin of 25%.
Dinesh Agarwal, Chief Executive Officer, said IndiaMART would continue to invest in strengthening product, technology and building strong customer relationships. “This remains integral to our long-term strategy to drive profitable growth and leverage our value proposition to create value for all our stakeholders,” he said.
The Other Income increased to Rs. 31 crores primarily due to fair value gain on treasury investments. Net Profit for this quarter was Rs. 56 Crore representing margin of 19%.
Consolidated Cash Flow from Operations for the quarter was at Rs. 209 Crore. Cash and Investments balance stood at Rs. 2,335 Crore as on March 31, 2023
IndiaMART registered traffic of 252 million and Unique business enquiries of 22 million in Q4 FY23. Supplier Storefronts grew to 7.5 million, an increase of 6% YoY and paying subscription suppliers grew to 202,690 a net addition of 8,335 subscribers during the quarter.
The total headcount increased by 170 to 4,583 at the end of the quarter with focus on strengthening Sales and Servicing teams.