New customer acquisitions and net customer additions at IndiaMART will remain volatile until the industry churn from the pandemic stabilises, Dinesh Agarwal, CEO and managing director of IndiaMART InterMESH Pvt. Ltd. said on an earnings call on Friday. Even with this volatilty, Agarwal said that there are people who understand IndiaMART as a platform and know how to take out value from it. This was reflected in increasing collections and ARPU from customers, both of which increased rapidly when the market was open December 2020 to March 2021. This has been disturbed again because of the second wave of COVID-19, which is more severe. Agarwal said IndiaMART had to drop 15,000 customers in the first quarter of FY20 due to COVID-19 pandemic. It took the company two quarters to recover from this. Highlights from earnings call 80 million visits every month in FY21, as compared to 60 million per month in FY20 610 million business inquiries were delivered in FY21, growing 31% from FY20 Reached pre-COVID level for paying subscribers in Q4, by the end, got 4,000 net additional subscribers, resulting in 152,000 total subscribers Successfully closed QIP and raised Rs 1,070 crore, will be invested in organic and inorganic opportunities. Invested in 3 companies, Legistify (operates Legistrack), Truckhall (operates Superprocure), and Shipway. Consolidated revenue was Rs 180 crore up 6% YoY due to marginal increase in ARPU and paying subscribers Collections from customers grew 32% YoY to Rs 272 crore in the quarter ended March 31, 2021. When asked about estimated…
