Based on the information you have provided, it appears that IndiaMART InterMESH, the Indian B2B e-commerce marketplace, experienced a significant increase in revenue from operations in the fiscal year ended March 2023, with a 31% jump to INR 985 crore (approximately $131 million) from INR 753 crore (approximately $100 million) in the previous fiscal year (FY22). This increase in revenue could be attributed to various factors such as increased transactions on the platform, new services, and expanded offerings.
However, IndiaMART also reported a rise in total expenses, which increased by over 63% to INR 757 crore (approximately $100 million) in FY23 from INR 463 crore (approximately $61 million) in FY22. This increase in expenses could be due to factors such as increased investments in technology and infrastructure, marketing, and employee costs.
In Q4 FY23, IndiaMART’s net profit fell by 3% to INR 55.8 crore (approximately $7.4 million) from INR 57.4 crore (approximately $7.6 million) in the same quarter of the previous fiscal year (Q4 FY22). For the entire fiscal year 2022-23 (FY23), IndiaMART’s consolidated net profit fell by nearly 5% year-on-year to INR 283.8 crore (approximately $38 million) from INR 297.6 crore (approximately $40 million) in the previous fiscal year (FY22).
Overall, IndiaMART’s revenue from operations has grown significantly, but the increase in expenses has impacted the company’s profitability in the short term. However, IndiaMART’s long-term prospects could be positive if the company can sustain its revenue growth while managing expenses effectively. Hit by rising expenses, B2B marketplace IndiaMART InterMESH saw its consolidated net profit fall nearly 5% year-on-year to INR 283.8 Cr in the fiscal year 2022-23 (FY23). The Noida-based company had reported a net profit of INR 297.6 Cr in the previous financial year. Revenue from operations jumped 31% to INR 985 Cr in the fiscal year ended March 2023 from INR 753 Cr in FY22. Based on the information you have provided, it appears that IndiaMART InterMESH, the Indian B2B e-commerce marketplace, experienced a significant increase in revenue from operations in the fiscal year ended March 2023, with a 31% jump to INR 985 crore (approximately $131 million) from INR 753 crore (approximately $100 million) in the previous fiscal year (FY22). This increase in revenue could be attributed to various factors such as increased transactions on the platform, new services, and expanded offerings.
However, IndiaMART also reported a rise in total expenses, which increased by over 63% to INR 757 crore (approximately $100 million) in FY23 from INR 463 crore (approximately $61 million) in FY22. This increase in expenses could be due to factors such as increased investments in technology and infrastructure, marketing, and employee costs.
In Q4 FY23, IndiaMART’s net profit fell by 3% to INR 55.8 crore (approximately $7.4 million) from INR 57.4 crore (approximately $7.6 million) in the same quarter of the previous fiscal year (Q4 FY22). For the entire fiscal year 2022-23 (FY23), IndiaMART’s consolidated net profit fell by nearly 5% year-on-year to INR 283.8 crore (approximately $38 million) from INR 297.6 crore (approximately $40 million) in the previous fiscal year (FY22).
Overall, IndiaMART’s revenue from operations has grown significantly, but the increase in expenses has impacted the company’s profitability in the short term. However, IndiaMART’s long-term prospects could be positive if the company can sustain its revenue growth while managing expenses effectively.