IndiaMART reports 10 percent profit growth in second quarter
IndiaMART posted a net profit of 90.7 crore rupees for the second quarter of fiscal year 2027. The growth coincides with a decline in active buyers and a strategic shift in data accessibility.
IndiaMART recorded a consolidated net profit of 90.7 crore rupees for the quarter ending September 2026, marking a 10 percent year-on-year increase. Revenue also grew by 10 percent to 428.6 crore rupees during the same period.
The performance comes amid structural headwinds for the B2B marketplace. The number of paying suppliers fell 2 percent to 217,000, while active buyers dropped 7 percent to 40 million. CEO Dinesh Agarwal attributed a 14 percent decline in business inquiries to both the rise of Google’s AI Overviews and an internal decision to restrict content behind logins to prevent unauthorized data scraping.
Despite industry trends toward fully transactional marketplaces, management confirmed it will maintain its listing-focused model. The company is currently exploring credit facilitation pilots but clarified it does not intend to lend from its own balance sheet.
Operating expenses rose by 3 percent to 276.3 crore rupees, significantly lower than the revenue growth rate, reflecting improved unit economics. Employee benefits remained the primary expenditure, totaling 171 crore rupees.