Indiamart clicks ahead as web services power steady growth in FY26

MUMBAI: It was a case of clicks doing the heavy lifting. Indiamart Intermesh Limited closed the December 2025 quarter with its core web business firmly in the driver’s seat, as steady demand from its B2B marketplace offset continued pressure in its accounting software segment.

According to the company’s audited consolidated financials for the quarter and nine months ended December 31, 2025, Indiamart Intermesh Limited reported total segment revenue of Rs 3,910 million for the December quarter, compared with Rs 4,016 million in September 2025 and Rs 3,543 million a year earlier. For the nine-month period, revenue stood at Rs 11,647 million, up from Rs 10,333 million in the corresponding period last year.

The web and related services segment remained the clear growth engine. It contributed Rs 3,681 million in the December quarter and Rs 10,747 million over nine months, underlining the resilience of Indiamart’s online B2B marketplace for products and services. Segment results from this business came in at Rs 1,352 million for the quarter and Rs 4,019 million for the nine-month period.

In contrast, the accounting software services business continued to weigh on performance. While revenue from the segment was Rs 335 million in the December quarter and Rs 900 million over nine months, the business reported losses of Rs 10 million for the quarter and Rs 95 million for the nine-month period, reflecting ongoing investment and competitive pressure.

After accounting for finance costs, depreciation and amortisation, and other income, profit before tax for the December quarter stood at Rs 1,186 million, compared with Rs 2,470 million in the preceding quarter and Rs 1,590 million in the year-ago period. For the nine months ended December 2025, profit before tax was Rs 5,695 million, up from Rs 4,877 million a year earlier.

The company also reported a share of net losses from associates amounting to Rs 146 million for the December quarter and Rs 380 million for the nine-month period.

On the balance sheet side, total segment assets stood at Rs 41,277 million as of December 31, 2025, while segment liabilities were reported at Rs 19,900 million, reflecting a stable asset base anchored by the web services business.

Indiamart said it continues to operate through two reportable segments, web and related services, and accounting software services based on product nature, risk profile and internal reporting structure. While software remains a work in progress, the numbers suggest the marketplace model continues to deliver, keeping Indiamart’s growth story firmly online rather than offline.