Indiamart Intermesh Q4 results: Net profit rises 26% to Rs 56 cr

NEW DELHI: B2B e-commerce agency Intermesh on Thursday posted a 26 per cent improve in consolidated net profit to Rs 56 crore for the fourth quarter ended March 31, 2021.

The firm had posted a internet (*56*) of Rs 44 crore in the identical interval a yr in the past.

Total income of the corporate elevated by about 1 per cent to Rs 190 crore throughout the reported quarter from Rs 187 crore within the corresponding interval of 2019-20.

“Strong response from world and home traders main to profitable closure of QIP providing on this unstable market setting additional demonstrated their confidence within the enterprise mannequin.

“During these trying times, we remain committed to employee safety and customer centric approach helping businesses grow through on-line transformation,” Indiamart Intermesh CEO Dinesh Agarwal mentioned in a press release.

During the reported quarter, Indiamart accomplished its certified institutional placement (QIP) of fairness shares by elevating Rs 1,070 crore. The firm plans to use the proceeds for future development and growth.

“With a stronger balance sheet we will continue to invest in strengthening our value proposition further, positioning us well to leverage the emerging long term market opportunities,” Agarwal mentioned.

For the yr ended March 31, 2021, Indiamart Intermesh posted a 90 per cent improve in consolidated internet (*56*) to Rs 280 crore in contrast to Rs 147 crore in 2019-20.

Total revenue of the corporate elevated by 7 per cent to Rs 756 crore in 2020-21 from Rs 707 crore within the previous fiscal.

The board of administrators has really helpful a ultimate dividend of Rs 15 per share for the fiscal yr 2021, topic to shareholder approval.

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