Indiamart Intermesh, reported a 60.68 per cent increase in total net profit to Rs 112.8 crore for the third quarter ended on 31 December, the company said in its regulatory filing.
In the October-December quarter a year earlier, the business reported a consolidated profit of Rs 70.2 crore, it said.
Its consolidated income from operations increased by 33.65 per cent in the third quarter to Rs 251.4 crore, up from Rs 188.1 crore in the same time the previous year.
According to Indiamart Intermesh CEO Dinesh Agarwal, the results were driven by revenue growth, deferred revenue, paying subscription providers, and cash flow from operations with high margins.
“Our strong balance sheet and sustainable cash flows enable us to continue investing in strengthening our manpower across the organisation as well as investments in strategic areas,” he said.
Agarwal stated that the company would continue to invest behind the growth and focus on further enhancing our value proposition to capitalise on upcoming growth tailwinds owing to increasing digital adoption by companies.
Indiamart Intermesh shares closed at Rs 4,476.70 a share on Thursday, down 0.72 percent from the previous closing.
