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IndiaMART Achieves 21% Year-on-Year Growth in Consolidated Revenue in FY24, Reaching Rs. 1,197 Crore

IndiaMART Achieves 21% Revenue Growth in FY24


IndiaMART Achieves 21% Year-on-Year Growth in Consolidated Revenue in FY24, Reaching Rs. 1,197 Crore

IndiaMART InterMESH Limited, a leading online marketplace for business products and services, has announced its financial results for the full year and fourth quarter ending March 31, 2024, showcasing impressive growth and robust performance.

For the fiscal year 2023-24, IndiaMART reported a consolidated revenue from operations of Rs. 1,197 Crore, marking a substantial 21% year-on-year growth. The standalone EBITDA for the same period reached Rs. 334 Crore, representing an EBITDA margin of 29%.

In the fourth quarter of FY24, IndiaMART recorded a consolidated revenue from operations of Rs. 315 Crore, reflecting a year-on-year growth of 17%. The standalone EBITDA for the quarter stood at Rs. 90 Crore, with an EBITDA margin of 30%.

The company’s consolidated cash generated from operations for FY24 amounted to Rs. 559 Crore. Additionally, the Board of Directors has recommended a final dividend of Rs. 20 per share.

Mr. Dinesh Agarwal, Chief Executive Officer of IndiaMART, expressed his satisfaction with the performance, stating, “We have closed the financial year with steady growth in revenue, deferred revenue, profits, and cash flows. Our focus remains on enabling more and more businesses to grow online by providing them a great product and customer experience. On the back of strong cash flow from operations and continued investments in further strengthening our value proposition, we remain confident of sustained profitable growth amidst rising internet adoption amongst businesses.”

Operational highlights for the fourth quarter of FY24 include registering unique business enquiries of 24 million, representing a year-on-year growth of 14%. The number of supplier storefronts grew to 7.9 million, an increase of 5% year-on-year, while paying suppliers grew to 214,000, with a net addition of 3,000 subscribers during the quarter.

IndiaMART’s performance reflects its commitment to providing innovative solutions for businesses and driving growth in the digital economy. With a strong financial foundation and a focus on customer experience, the company is well-positioned for continued success in the evolving business landscape.

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