Categories AlphaGraphs, Earnings, Technology

IndiaMART reports its Q2FY23 results: Net profit drops by 17%

On Thursday, B2B e-commerce firm IndiaMART InterMESH reported a 17 per cent drop in consolidated net profit to INR 68 crore for the quarter ended September. The company had posted a net profit of INR 82 crore in the same period a year ago.

The consolidated revenue from operations, however, increased by 32 per cent to INR 241 crore from INR 182 crore in the September 2021 quarter.

IndiaMART said it registered traffic of 26.1 crore and total business enquiries of 12.2 crore during the reported quarter. “Paying subscription suppliers grew by 25 per cent YoY (year-on-year) to 1,88,092 with a net addition of 8,832 paying subscription suppliers during the quarter,” the company said.

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