IndiaMart InterMesh falls as net profit slumps

IndiaMART InterMESH

22/07/2022 08:30

** Shares of e-commerce company IndiaMart InterMesh Ltd
 INMR.NS  fall as much as 4.9% to 4,050 rupees in their biggest
intraday pct loss since June 17
    ** June-qtr net profit nearly halves to 489 mln rupees
($6.12 mln), hit by a 72% jump in quarterly expenses (https://bityl.co/DOkm)
    ** Expenses included one-time costs related to acquisitions
of Busy Infotech and Finlite Technologies 
    ** Paying subscription suppliers grew 23% y/y to 179,260
    ** Stock down 36.20% YTD, as of last close

($1 = 79.8875 Indian rupees)

 (Reporting by Yagnoseni Das in Bengaluru)
 ((yagnoseni.das@thomsonreuters.com))