IndiaMART InterMESH (INDIAMART) Q3 24/25 earnings summary

Executive summary

• Consolidated revenue from operations reached ₹354 crore in Q3 FY25, up 16% year-over-year, with standalone revenue at ₹337 crore.

• Net profit for Q3 was ₹121 crore (consolidated), up 48% year-over-year; standalone net profit was ₹125 crore.

• Deferred revenue increased 17% to ₹1,492 crore, indicating strong future revenue visibility.

• Unique business inquiries rose 17% to 27 million; paying suppliers declined by 3,500 to 214,000 due to focus on quality onboarding.

• Leadership changes included a new Chief HR Officer and appointments of new directors and compliance officers.

Financial highlights

• Collections from customers grew 10% to ₹363 crore (consolidated); standalone collections were ₹341 crore, up 8% year-over-year.

• Standalone EBITDA stood at ₹144 crore with a margin of 43%; consolidated EBITDA margin was 39%.

• Cash generated from operations was ₹114 crore; cash and treasury balance at ₹2,606 crore as of December 31, 2024.

• Annualized revenue per paying supplier increased 14% year-over-year to ₹63,000.

• Busy Infotech reported revenue of ₹16.3 crore (up 30% YoY), net billing of ₹20.4 crore (up 42% YoY), and EBITDA margin of 7%.

Outlook and guidance

• Management expects collection growth to remain below 10% in the near term due to flat or negative net customer additions.

• Focus remains on improving churn and customer retention before resuming aggressive customer acquisition.

• ARPU growth is expected to continue, especially among top-tier customers, but overall growth will depend on fixing churn.

• Strategic investments in accounting, logistics, and procurement platforms to drive future growth.

• Expansion of buyer and supplier network and commerce enablement remain priorities.