Indiamart Intermesh Ltd share Price Today

Stock has undergone significant price/time correction. Price wise it corrected 2020 - 2021 rally by 80% followed by base formation. More importantly over past four months when market was in declining trend, Indiamart started rising and sustained above 10 weeks ema offering  favourable risk reward
 
In mid-April share price broke out of one year  rounding bottom bullish reversal patten above 5100 and made a sharp rebound after retesting breakout level post earnings
 
We expect the share price to resolve higher and head towards head towards 6350  as it is pattern implication of one year range breakout (5100-3800)
 
Among Oscillators, RSI is also breaking past 70 levels first time since February 2021 peak, validating positive bias

Internet Software & Services company IndiaMART InterMESH announced Q2FY24 results:

Financial Performance
- Consolidated revenue from operations of Rs 295 crore, YoY growth of 22%
- Consolidated cash generated from operations at Rs 102 crore
- Consolidated net profit of Rs 69 crore

Revenue and User Metrics
- Standalone revenue from operations grew by 23% YoY to Rs 281 crore
- Revenue from operations of Busy Infotech grew by 24% YoY to Rs 13 crore
- Consolidated deferred revenue increased by 26% YoY to Rs 1,244 crore
- IndiaMART registered traffic of 288 million and Unique business enquiries of 24 million in Q2FY24

Operating Margins and Profitability
- Standalone EBITDA stood at Rs 81 crore for Q2FY24 representing an EBITDA margin of 29%
- Consolidated EBITDA stood at Rs 80 crore for Q2FY24 representing an EBITDA margin of 27%
- Consolidated profit before tax was at Rs 93 crore
- Consolidated net profit for this quarter was Rs 69 crore representing a margin of 28% and 21% respectively

Cash Flow and Investments
- Consolidated cash flow from operations for the quarter was at Rs 102 crore
- Consolidated cash and investments balance stood at Rs 1,910 crore as of September 30, 2023

Operational Highlights
- Supplier Storefronts grew to 7.7 million, an increase of 5% YoY
- Paying subscription suppliers grew to 2,09,747 representing a net addition of 2,064 subscribers during the quarter

Commenting on the performance, Dinesh Agarwal, Chief Executive Officer, said, "We are happy to report continued growth in revenue, deferred revenue, and healthy operating margins in this quarter. This is the result of investments made in further strengthening our value proposition and enhancing the user experience for businesses. With the rising internet adoption and on the back of healthy cash flows, we are confident of the long-term growth and sustained value creation for all our stakeholders."

Result PDF