IndiaMART's revenue surged by 17% to Rs 331 crore in the first quarter of FY25.

IndiaMART, India's largest B2B marketplace based in Noida, recently shared its financial results for the first quarter ending June 30, 2024. The company reported a consolidated revenue of Rs 331 crore, marking a 17% increase from Rs 282 crore in the same quarter last year. This growth includes Rs 315 crore from IndiaMART's core operations and Rs 15 crore from Busy Infotech, reflecting respective year-on-year increases of 18% and 15%.

Customer collections rose by 14% to Rs 366 crore, with Rs 341 crore coming from IndiaMART's standalone business and Rs 24 crore from Busy Infotech. Deferred revenue grew by 23% to Rs 1,474 crore, driven primarily by IndiaMART's standalone deferred revenue of Rs 1,421 crore and Busy Infotech's Rs 51 crore.

IndiaMART reported a net profit of Rs 114 crore for Q1 FY2025, achieving a 30% profit margin. The company's cash flow from operations was Rs 136 crore, and it held a cash and investments balance of Rs 2,319 crore as of June 30, 2024. 

Standalone revenue from operations reached Rs 315 crore, an 18% increase from Rs 268 crore in the previous year, due to a 13% improvement in supplier realization and a higher number of paying suppliers. Standalone customer collections hit Rs 341 crore, and deferred revenue increased by 22% to Rs 1,421 crore. The standalone EBITDA was Rs 117 crore with a 37% margin, and the net profit was Rs 124 crore, reflecting a 34% margin.

During Q1 FY2025, IndiaMART saw 25 million unique business inquiries, a 15% increase year-on-year. Supplier storefronts grew by 5% to 8 million, and the number of paying suppliers reached 216,000, with a net addition of 1,500 subscribers. Additionally, IndiaMART agreed to acquire a 10% stake in Baldor Technologies Private Limited (IDfy), a company specializing in integrated identity platform solutions for KYC, background checks, risk management, digital onboarding, and privacy.