IndiaMART Q1 Profit Up 12% To ₹172 Cr; Company Plans Lending Arm
B2B e-commerce firm IndiaMART InterMESH reported a 12% year-on-year increase in consolidated net profit to ₹172.2 Cr for the first quarter of FY27. The company also announced plans to establish a wholly-owned subsidiary for business financing.
IndiaMART InterMESH has announced a 12% year-on-year rise in its consolidated net profit, reaching ₹172.2 crore (approximately $20.6 million USD) for the first quarter of fiscal year 2027. This marks a significant increase from the ₹153.5 crore profit recorded in the same period last year.
The company’s operating revenue saw an 11% year-on-year growth, amounting to ₹414.4 crore. The core marketplace, which includes web and related services, grew by 9% to ₹375.9 crore, while its accounting software business reported a substantial 49% increase in revenue, reaching ₹38.5 crore.
Total expenses for the quarter rose by 12% to ₹274.8 crore, largely attributed to increased employee benefit expenses. IndiaMART generated 26 million unique business enquiries during the quarter, and the number of paying suppliers stood at 2.18 lakh (218,000).
In a strategic expansion, IndiaMART's board has approved the incorporation of a wholly owned subsidiary, IndiaMART Finance. This new entity will focus on providing short-term working capital financing to the platform’s business users, aiming to enhance customer trust and engagement.
Founded in 1996, IndiaMART operates one of India’s largest online B2B marketplaces. The planned foray into lending represents a diversification of its services beyond its established e-commerce and SaaS offerings.