27 January 2022, Mumbai:
The third quarter consolidated net profit of B2B e-commerce firm Indiamart Intermesh declined 12 per cent to Rs 70 crore ($9.5 million) as to a net profit of Rs 80 crore it posted in the year-ago period.
The company’s revenue for the quarter dropped by 8 percent to Rs 188 crore, as against Rs 174 crore it reported in the corresponding period of the previous fiscal year.
Dinesh Agarwal, CEO says, there has been growth in customers and deferred revenue with healthy margins and cash flows during the quarter.
Growing internet adoption strengthens our value proposition of helping businesses transform themselves to do business online. The company will continue to invest in its employees and product offerings that create long-term value for its shareholders,” he adds.
Indiamart helps companies explore the digital way of doing business and enables them with an alternate sales channel to reach high intent buyers easily.
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