Sumary of Indiamart Q1 results: Net profit rises 19% to Rs 88 crore:
- “Our focus had been to continue supporting customers as well as employees in the times that had been personally challenging to many,” Indiamart Chief Executive Officer Dinesh Agarwal said in a statement.
- Indiamart also filed a “statement of deviation or variation in utilization of funds raised through QIP by the Company, for the quarter ended June 30, 2021, reviewed by the Audit Committee”.
- The statement was with respect to the fund utilisation from proceeds of Rs 1,051.2 crore that the company had raised from qualified institutional placement (QIP) on February 22, 2021. Indiamart’s filing said the expenses incurred in relation to QIP amounting to Rs 19 crore have been adjusted from the securities premium account.