IndiaMART InterMESH Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 18, 2024 at 04:02 am EST
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IndiaMART InterMESH Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 3,053 million compared to INR 2,514 million a year ago. Revenue was INR 3,470 million compared to INR 3,536 million a year ago. Net income was INR 819 million compared to INR 1,128 million a year ago. Basic earnings per share from continuing operations was INR 13.66 compared to INR 18.46 a year ago. Diluted earnings per share from continuing operations was INR 13.63 compared to INR 18.45 a year ago.
For the nine months, sales was INR 8,821 million compared to INR 7,166 million a year ago. Revenue was INR 10,155 million compared to INR 8,664 million a year ago. Net income was INR 2,344 million compared to INR 2,279 million a year ago. Basic earnings per share from continuing operations was INR 38.6 compared to INR 37.33 a year ago. Diluted earnings per share from continuing operations was INR 38.51 compared to INR 37.2 a year ago.
IndiaMART InterMESH Limited is an India-based company. The Company is an online business-to-business (B2B) marketplace, which connects buyers with suppliers. Its channel is focused on providing a platform for small and medium enterprises (SMEs), large enterprises, as well as individuals. The Company operates through two segments: Web and related Services and Accounting Software Services. Web and related services segment provide business-to-business e-marketplace services, which acts as an interactive hub for domestic and international buyers and suppliers. The Accounting software services segment provides the business of development, system analysis, designing and marketing of integrated business accounting software to help and manage businesses with increased efficiency. The Company's solutions include IM Leader, IM Star, TrustSEAL, Maximiser, IndiaMART Paid Service (MDC), IndiaMART Verified Exporter, enterprise solutions, and advertising solutions.