Indiamart Intermesh hits over 2-year low as on weaker Q3 metrics

IndiaMART InterMESH

22/01/2025 04:10

** Indiamart Intermesh  INMR.NS  shares slide as much as 10%
to 2,065.40 rupees, lowest since Dec 2022
    ** INMR among top losers on Nifty 500  .NIFTY500 
    ** The B2B online market place reports 36% Y/Y rise in Q3
profit, aided by cost savings, but other key metrics suffered
    ** Paid subscribers fell by 4,000 Q/Q, while collections
were muted
    ** Ambit Capital says the financial beat is immaterial if
lead indicators are anaemic
    ** Jefferies says INMR's commentary suggests subscriber adds
to remain under pressure
    ** At least 6 brokerages cut PTs, lowering the median to
2,660 rupees from 3,100 rupees a month back -LSEG
    ** INMR shares down 5.5% in Jan after falling over 17% in
2024

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))