IndiaMart reports 34% rise in YoY consolidated revenue

Noida, India, January 20, 2023: IndiaMART InterMESH Limited (referred to as “IndiaMART” or the  “Company”), today announced its financial results for the third quarter ending December 31, 2022.

Q3 FY2023 vs. Q3 FY2022

  • Consolidated revenue from operations (YoY) up by 36%
  • Consolidated Y0Y revenue increased by 34%
  • Consolidated Cash Deferred YoY revenue increased by 29%

 Consolidated Revenue from Operations of Rs. 251 Crore, YoY growth of 34%  Consolidated Cash generated from Operations at Rs. 115 Crore, YoY growth of 36%  Consolidated Deferred Revenue stood at Rs. 1,015 Crore, YoY growth of 29%

Financial Highlights (Q3 FY2023):

IndiaMART reported consolidated Revenue from Operations of Rs. 251 Crore in Q3 FY23, a growth of  34% YoY primarily driven by 24% increase in a number of paying subscription suppliers and the addition of Rs. 10 Crore revenue from accounting software services. Consolidated Deferred Revenue increased by 29%  YoY to Rs. 1,015 Crore as on December 31, 2022.

The Company continued making growth investments in manpower, product and technology, sales and  servicing resulting into growth in revenue and paying subscription suppliers. As a result, consolidated  EBITDA was Rs. 70 Crore for Q3 FY23 representing EBITDA margin of 28%.

The Other Income increased to Rs. 102 crores on primarily due to a one-time realized and unrealized gain of  Rs. 67 crores on measurement and sale of investment in other entities. Net Profit for this quarter was Rs. 113 Crore representing margin of 32%.

Consolidated Cash Flow from Operations for the quarter was at Rs. 115 Crore. Cash and Investments balance stood at Rs. 2,108 Crore as on December 31, 2022.

Operational Highlights (Q3 FY2023):

IndiaMART registered traffic of 250 million and Total business enquiries of 119 million during Q3 FY23.  Supplier Storefronts grew to 7.4 million, an increase of 6% YoY, and paying subscription suppliers grew by 24% YoY to 194,355 with a net addition of 6,263 paying subscription suppliers during the quarter.

Commenting on the performance, Mr. Dinesh Agarwal, Chief Executive Officer, said: ” We are pleased with the growth in revenue, deferred revenue, paying subscription suppliers, and cash flow from operations with healthy margins. Our strong balance sheet and sustainable cashflows enable us to continue investing in strengthening our manpower across the organization as well as investments in strategic areas. We will continue to invest behind the growth and focus on further strengthening our value  proposition to leverage the emerging growth tailwinds due to accelerated digital adoption by businesses.”

Q3 FY2023 Performance Metrics: Consolidated Basis


Total Income

Revenue from Operations




EBIT Margin

Other Income

Profit Before Tax

Profit Before Tax Margin

Net Profit for the period Net Profit Margin

Cash generated from Operating  Activities

Collections from Customers Deferred Revenue

Cash and Investments


(Rs. Crore)

(Rs. Crore)

(Rs. Crore)


(Rs. Crore)


(Rs. Crore)

(Rs. Crore)


(Rs. Crore)


(Rs. Crore)

(Rs. Crore)

(Rs. Crore)

(Rs. Crore)







354 210 68% 251 188 34%

70 79 (11%) 28% 42%

62 76 (19%) 25% 40%

102 22 367%

152 93 63% 43% 44%

113 70 61% 32% 33%

115 84 36% 283 222 28% 1,015 790 29% 2,108 2,523 (16%)





287 23%

241 4%

67 5%


60 3%


47 119%

93 64%


68 65%


78 48%

264 7%

984 3%

1,975 7%

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