IndiaMART said the growth in revenue was driven by improvement in realization from existing customers and increase in number of paying subscription suppliers. Deferred revenue grew by 25% YoY to Rs 790 crore as at 31 December 2021.

EBITDA was Rs 79 crore (down 10% YoY). EBITDA margin for Q3 FY22 stood at 42%, lower than 51% in Q3 FY21. EBIT for the period was Rs 75 crore (down 10% YoY) with EBIT margin of 40% in Q3 FY22 as against 48% in Q3 FY21.

Cash flow from operations for the quarter was at Rs 84 crore, a year-on-year growth of 9%. Cash and Investments balance stood at Rs 2,523 crore as on 31 December 2021.

IndiaMART registered traffic of 259 million and unique business enquiries of 23 million during Q3 FY22. Supplier storefronts grew to 7 million, an increase of 10% YoY and with a net addition of 5,833 subscribers during Q3 FY22, paying subscription suppliers grew to 156 thousand.

Further, during the quarter, IndiaMART has acquired 7.7% stake in 'Mynd Solutions' which operates receivables exchange under the brand name of 'M1xchange'. Mynd Solutions Private Limited is one of the RBI licensed entities to set up TReDS platform to facilitate invoice discounting for MSMEs.

It also acquired 26% stake in 'Edgewise Technologies' offers AI driven omnichannel inventory and warehouse management solutions to merchants under the brand name of 'EasyEcom'. It allows merchants to allocate, track and reconcile inventory across online and offline sales channels.

Commenting on the performance, Dinesh Agarwal, chief executive officer, said: "We are pleased to report a good financial performance in this quarter with growth in customers and deferred revenue with healthy margins and cash flows. Growing internet adoption strengthens our value proposition of helping businesses transform themselves to do business online. On the back of a strong balance sheet and cash flow from operations, we will continue to invest in our employees and product offerings for our customers that create long term value for our shareholders."

IndiaMART is India's largest online B2B marketplace for business products and services. IndiaMART makes it easier to do business by connecting buyers and sellers across product categories and geographies in India through business enablement solutions. IndiaMART provides ease and convenience to the buyers by offering a wide assortment of products and a responsive seller base while offering lead generation, lead management and payment solutions to its sellers.