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Sequentially, IndiaMart InterMesh Ltd.’s paying subscribers declined ~4% impacted by Covid-19 second wave.
Increase in buyer traffic and business enquiries (4%-8%) was led by categories like oxygen concentrators, etc.
Deferred revenues witnessed a marginal dip. Ebitda margin improved slightly to ~49% led by further reduction in manpower cost (down 5% q-o-q).
IndiaMart’s management reiterated that sustainable Ebitda margins over the medium term will be ~40%.
The prognosis of capital infusion by Reliance Industries Ltd. (~Rs 22 billion) into Just Dial Ltd. is a key thing to watch out for.
This may help Just Dial to become more aggressive in scaling up its B2B business.
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