Hot Pursuit     17-Jul-23
IndiaMART gains on buyback proposal
IndiaMART InterMESH advanced 2.80% to Rs 2,929.15 after the firm said that its board will meet on Thursday, 20 July 2023, to consider the proposal for buyback of fully paid up equity shares of the company.

On the same day, the board will also consider financial results for the quarter ended 30 June 2023.

IndiaMART InterMESH 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.

The company reported 2.79% fall in consolidated net profit to Rs 55.8 crore in Q4 FY23 as compared with Rs 57.4 crore in Q4 FY22. Revenue from operations jumped 33.47% to Rs 268.8 crore in Q4 FY23 as against Rs 201.4 crore posted in corresponding quarter last year.

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