Indiamart Intermesh Q2 FY25 results (Jul–Sep 2024) and concall

IndiaMART reported a quarter of mixed results, characterized by steady revenue growth of 18% but a significant 'negative surprise' in collections growth, which slowed to 5-6%. Management attributed the collections drag to execution issues and persistent churn in the 'silver' customer segment, while the 'gold' and 'platinum' tiers remained stable. Margins were temporarily elevated at 36% due to reduced spending on growth initiatives, with a long-term sustainable target set at 33%.