Indiamart Intermesh has big hipe in its consolidated net income for the second quarter
Indiamart Intermesh has posted nearly eight-fold jump in its consolidated net income at ₹70 crore for the second quarter ended September 30, 2020.
Indiamart Intermesh has posted nearly eight-fold jump in its consolidated
The results were announced after market hours on Monday. Indiamart Intermesh shares were trading 2.7% lower in early trade today at ₹4,881 on BSE. Indiamart shares had run up sharply from its March lows of ₹1,641.20."EBIT margin was highest-ever at 47% (v/s est. 34%, +27pp YoY and +240bp QoQ). This was led by optimization across cost items. Employee expenses reduced 29% YoY, while outsourcing sales cost declined 28% YoY," domestic brokerage Motilal Oswal said
"As we navigate through these unprecedented times and a volatile environment, we are happy to report a moderate financial performance
The company's said