India, Jan. 20 -- Publicly-listed online B2B marketplace IndiaMART recorded total revenue of INR 565 Cr for the first nine months, from April to December-end, of the current fiscal year FY2021, according to the company's filings with the Bombay Stock Exchange.

For the same period, IndiaMART's expenses fell by 28% to INR 265 Cr, meaning a net profit of INR 233 Cr for the nine-month period, a 120% year-on-year increase compared to the same period last year.

When compared to the same period last year, the company has seen its revenue grow by 11%. This despite the company's CEO and cofounder Dinesh Agarwal telling Inc42 in May that each month of the Covid-19 induced lockdown could see IndiaMART's 147K-strong customer base shrink by 10-20%. ...