Are Indiamart Inter. latest results good or bad?

Indiamart Intermesh has reported its financial results for the quarter ending March 2025, showcasing notable performance in several key areas. The company achieved net sales of Rs 355.10 crore, reflecting a slight quarter-over-quarter growth of 0.23%, which indicates a consistent sales trend over the past five quarters.
The Profit After Tax (PAT) reached Rs 180.60 crore, marking a significant increase of 49.26% compared to the previous quarter, which had shown a decline. This PAT figure is the highest recorded in the last five quarters, suggesting a strong operational performance. Additionally, the Earnings per Share (EPS) stood at Rs 30.10, the highest in the same timeframe, which underscores the company's focus on enhancing shareholder value.

However, it is important to note that a substantial portion of the Profit Before Tax, nearly 49.89%, was derived from non-operating income, which raises questions about the sustainability of these profits. The operating profit margin, excluding other income, experienced a decline to 36.72%, down from 39.03%, indicating some challenges in operational efficiency.

Overall, while Indiamart Intermesh has demonstrated strong financial metrics, particularly in PAT and EPS, the reliance on non-operating income and the decrease in operating profit margin suggest areas for further scrutiny. The company saw an adjustment in its evaluation, reflecting these dynamics in its financial performance.