Indiamart Intermesh Records a 26% Surge in Q4 Net Profit, Amounting to Rs 56 Crore

In a financial update released on April 29, Indiamart Intermesh, a B2B e-commerce entity, disclosed a noteworthy 26% uptick in its consolidated net profit, reaching Rs 56 crore for the fourth quarter concluding on March 31, 2021.

This stands in stark contrast to the previous year’s corresponding period, where the company had accrued a net profit of Rs 44 crore.

The overall income of the company witnessed a marginal uptick of about 1%, climbing to Rs 190 crore in the reported quarter, compared to Rs 187 crore in the corresponding span of 2019-20.

The CEO of Indiamart Intermesh, Dinesh Agarwal, expressed satisfaction with the robust response from both global and domestic investors. He emphasized the successful closure of the QIP offering amid market volatility as a testament to their confidence in the business model.

“During these challenging times, our unwavering commitment to employee safety and a customer-centric approach remains steadfast, aiding businesses in their online transformation journey,” remarked Agarwal in an official statement.

In the aforementioned quarter, Indiamart successfully concluded its qualified institutional placement (QIP) of equity shares, raising a substantial sum of Rs 1,070 crore. The company earmarks these funds for future growth and expansion initiatives.

“With a fortified balance sheet, we intend to continually invest in fortifying our value proposition, strategically positioning ourselves to capitalize on emerging long-term market opportunities,” Agarwal added.

For the fiscal year ending on March 31, 2021, Indiamart Intermesh reported a staggering 90% surge in consolidated net profit, reaching Rs 280 crore compared to the Rs 147 crore recorded in 2019-20.

The total income for the company witnessed a 7% increase, rising to Rs 756 crore in the fiscal year 2020-21 from Rs 707 crore in the preceding year.

The board of directors has proposed a final dividend of Rs 15 per share for the fiscal year 2021, pending shareholder approval.