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IndiaMART eyes 20% growth as it hopes to add 9,000 paying subscribers every quarter

IndiaMART InterMESH's management is confident of clocking revenue growth to the tune of 20 percent for the year ending March 2023, betting big on a rebound in enquiries and customer addition.

By Mangalam Maloo   | Nigel D'Souza  September 26, 2022, 2:07:50 PM IST (Published)



IndiaMART InterMESH — an online B2B marketplace — is confident of finishing the financial year with revenue growth to the tune of 20 percent and above, banking on a recovery in enquiries and customer addition. "April, May and June were specifically bad during the (Russia-Ukraine) war and the inflationary problems, but now I think that is behind us to some extent," Dinesh Agarwal, Founder and CEO of IndiaMART InterMESH, told CNBC-TV18.



Remarks from the chief of IndiaMART InterMESH, which operates through web-related services and accounting software services segments, comes at a time when business across sectors are hoping to see a pickup in margins. This comes amid easing input costs after months of elevated levels of raw material prices.



IndiaMART has been gaining market share in the e-commerce space, and is confident of adding 8,000-9,000 suppliers to its paying subscriber base every quarter for the next few quarters, said Agarwal.




IndiaMART shares have lagged the overall market with a return of 5.4 percent in the past three months, a period in which the Nifty50 benchmark has risen 9.1 percent.




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