IndiaMart shares tumble 18% after Q2 results. Should you buy, sell or hold?
IndiaMart InterMesh-operated IndiaMart today fell by 18% to Rs 2,466.80 on the BSE even as the company reported nearly a 95% YoY jump in its Q2 PAT at Rs 135.1 crore.
Additionally, the company also reported an 18% jump in its revenue on a year-on-year basis (YoY) at Rs 348 crore for the second quarter ended September 2024, which stood at Rs 295 crore in the same quarter of the previous fiscal year.
IndiaMart’s EBITDA stood at Rs 134.6 crore, up by 68.3% YoY while the EBITDA margins stood at 38.7% for the quarter against 27.1% reported in the corresponding quarter of the previous financial year.
Post the update, here is what the analysts across various brokerages said:
Nuvama: Reduce| Target price: Rs 2,500
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