IndiaMART InterMESH reports PAT of Rs62cr yoy; stock surges 15%

IndiaMART InterMESH reports PAT of Rs62cr yoy; stock surges 15%

IndiaMART InterMESH on Tuesday reported a consolidated net profit for the quarter was at Rs62cr post deferred tax credit of Rs22.90cr in Q3FY20.

Total revenue from operations came in at Rs165cr, 23% growth yoy, primarily due to an increase in the number of paying subscribers as well as a higher realization from existing customers.

Consolidated EBITDA for Q3FY20 stood at Rs44cr representing a margin expansion from 21% in Q3FY19 to 26% in Q3FY20 partly due to increasing in revenues and adoption of IndAS 116. 

Dinesh Agarwal, Chief Executive Officer, said, “The company continued its growth despite the challenging business environment. Our focus on operational efficiency has helped us improve our profitability in these times. Going forward we are hopeful to witness an improvement in the macroeconomy, we remain committed to strengthen our business model and enhance the value proposition for our customers.”

Stock view:
Indiamart Intermesh Ltd is currently trading at Rs2,393.10, up by Rs305.85 or 14.65% from its previous closing of Rs2,087.25 on the BSE.

The scrip opened at Rs2,220 and has touched a high and low of Rs2,477.65 and Rs2,220 respectively.

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