Latest News | Infra.Market Posts 5 Times Jump in Net Profit to Rs 186 Crore in FY22

New Delhi, Oct 13 (PTI) Construction focussed e-commerce unicorn Infra.Market has recorded over five-fold jump in profit after tax to Rs 186 crore in the financial year ended on March 31, 2022, the company said on Thursday.

The company had registered a profit after tax of Rs 36 crore in 2020-21.

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Total revenue from operations of Infra.Market also jumped by over 5-fold to Rs 6,236 crore in 2021-22 from Rs 1,242 crore in 2020-21.

"Growth coupled with profitability is the need of the hour and something we have always believed in, but most importantly, the need to build business models with deep fundamentals which can withstand cycles and funding winters.

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"Our growth is further aided by the economic push for infrastructure growth by the government and the renewed focus to make India a manufacturing hub for the world," Infra.Market Co-Founder Souvik Sengupta said.

Infra.Market said that one of the key aspects for the growth is its ability to substantially improve profitability margins with the growing share of private labelled brands on the platform.

"Infra.Market today has large private labelled brands in Concrete, Walling products, Chemicals, Paint, Electricals, and Tiles. Private label brands constitute almost 60 per cent of the overall revenue from the sale of construction material products," the statement said.

During the year, Infra.Market acquired a concrete manufacturing company, RDC Concrete, from Truenorth for Rs 700 crore and the unicorn now aims to achieve category leadership in the next few quarters.

Infra.Market also marked its foray into the industrial and decorative paints vertical through the acquisition of a strategic stake in listed entity Shalimar Paints.

Infra.Market said retail business grew by 5 times, which now represents 10 per cent of the overall revenue of the company and export business accounts for 20 per cent of the total operating revenue.

Infra.Market said that through its brand Chemical.Market, it intends to create an impact in the USD 200 billion chemical industry.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)