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Q3 profitability may be higher than last year, says IndiaMART InterMESH

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Q3 profitability may be higher than last year, says IndiaMART InterMESH

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IndiaMART InterMESH has seen a near 200 percent surge this year and a mega 520 percent rally since listing in July last year. Dinesh Agarwal, Founder and CEO, IndiaMART InterMESH shared his views and outlook for the business going forward.

IndiaMART InterMESH has seen a near 200 percent surge this year and a mega 520 percent rally since listing in July last year. Dinesh Agarwal, Founder and CEO, IndiaMART InterMESH shared his views and outlook for the business going forward.
“From a profitability perspective, we may be ahead of Q3 last year but in terms of collection perspective we may be just able to match the last year’s Q3,” he said in an interview with CNBC-TV18.
“In Q3 given that we are already into December, all I can tell is that we are just above 90 percent of the previous year Q3. In certain parameters, we may be ahead and in certain parameters, we may be below,” he said.
“We are looking at further recovery in the current quarter as well,” he said.
According to him, in June, July, August and September a lot of economic recoveries took place, unlocking took place. “There was a pent-up demand there which resulted in a net addition of around 8,000 paying customers,” he said.
“The collections in Q2 went up to Rs 160 crore which was a significant recovery from Q1, this is still a decline of about 7 percent on the year-on-year (YoY) basis,” he said.
For more, watch the video.
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