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  Another
Commendable Year for IndiaMART.Com, Records Over 100% Rise in
Profits
New
Delhi, 19thAugust, 2004: IndiaMART InterMESH Ltd., one of
the pioneering B2B online marketplaces of India, has announced a
108% growth in profits over last year. The company has recorded
over 65% growth in revenues (from Rs. 438.24 lacs to Rs. 724.03
lacs). The PAT has gone up by almost 108% from Rs.24.32 lacs to
Rs.49.9 lacs during the same period. The EBDITA of the company
representing internal cash accruals modestly stands at Rs.193.57
lacs.
Another deserving endorsement for the company is that IndiaMART
client tally has crossed the 6000 mark. This has made the company
a clear leader in the Indian Industry and has brought it in league
with the global players like Alibaba and Global Sources.
"In light of the new economic scenario, respectable
performance in the previous year and the first quarter results we
look forward to better figures the coming year", said Mr
Dinesh Agarwal, Founder & CEO of IndiaMART.com. He attributes
the reason for this jump to various changes like process
automation, new services and technological advancements along with
the industry trend where in the global buyers are fast moving to
digital marketplaces for their sourcing needs.
A major achievement of the company in the past year has been the
'TrustSEAL' certification service that has been able to bridge the
'Trust Gap' between the global buyers and the Indian suppliers.
The certified businesses benefit in having a distinct online
visibility and the buyer confidence. As a result, the company has
been able to generate business of over Rs.1600 crore (estimated)
for its clients in the last financial year.
"The company has been able to utilise the valuable manpower
in more productive services through internal restructuring and
automation", elaborates Mr. Brijesh Agarwal, COO
IndiaMART.com. He said that the company has a nation wide network
of over 12 branches and franchises at strategic locations. The
consistent performance and online presence of IndiaMART for eight
years has added to the company credibility.
IndiaMART offers a strong database of over 3 lacs
well-categorised businesses. The member businesses can be
contacted online. Their pages get over 20 million page views and 3
lac trade enquiries are generated. The marketplace also carries
valuable information on key Indian industries and business support
services.
IndiaMART seeks to achieve an even better growth in the coming
year. The company plans to introduce new services for the clients.
With the better technology and newer revenue streams, IndiaMART is
all set to take the challenge.
IndiaMART Snapshots & its Valuable
Firsts:
1996: Launched Online B2B Directory to promote Indian
businesses globally
1997: Launched India's first e-commerce website for
Nirula's
1997: Launched world's first portal dedicated to Indian
Handicraft
1999: Launched online shopping network and sending Diwali
Gifts.
2001: Business World-Netsense Survey declared IndiaMART as
the only profitable dotcom
2001: Encyclopaedia Britannica Internet Award for
excellence on web for Indian Travel Portal
2002: Set up India's largest web-development centre in
NOIDA
2003: Started India's first Business Verification Service "TrustSEAL"
for online B2B trade
2004: Achieved over 5000 B2B clients by January
Ref. URLs:
http://www.indiamart.com/press-section
http://www.intermesh.net
IndiaMART.com
Financial Results -Year Ending March 2004
| Particulars/financial
years |
2004 |
2003 |
2002 |
| |
Rs Lacs |
Rs Lacs |
Rs Lacs |
| Income
From operations |
724.03 |
438.24 |
351.82 |
| Other
Income |
0.78 |
0.93 |
0.97 |
| Operating
Expenditure |
531.24 |
382.84 |
323.63 |
| EBDITA |
193.57 |
56.33 |
29.16 |
| Interest |
1.42 |
4.28 |
0.23 |
| Depreciation
& Amortisation |
138.1 |
25.68 |
17.48 |
| Profit
before Tax |
54.05 |
26.36 |
11.45 |
| Provision
for Taxation |
4.15 |
2.04 |
2.72 |
| Profit
After Tax |
49.9 |
24.32 |
8.72 |
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