IndiaMART reports 28% YoY growth in revenue from operations
New Delhi/IBNS: IndiaMART InterMESH Limited (referred to as “IndiaMART” or the “Company”), has announced its financial results for the second quarter ending Sept 30, 2019.
IndiaMART reported Consolidated Total Revenue from Operations of Rs. 157 Crores, 28% growth YoY primarily due to increase in number of paying subscribers as well as higher realization from existing customers.
Consolidated Deferred Revenue grew by 28% from Rs. 492 Crores in Q2 FY19 to Rs. 631 Crore in Q2 FY20 Crore leading to much better visibility for revenues in future, the company said.
Commenting on the performance, Dinesh Agarwal, Chief Executive Officer, said, “We are pleased to report results for the quarter ending September 2019 on expected lines, showcasing continued growth.
The results are reflection of our well diversified business model and unique value proposition that we have developed over the years. Going forward, as we continue to steer ourselves in the challenging macro environment, we remain cautiously optimistic of maintaining the growth momentum.”
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
