IndiaMART InterMESH shares drop over 8% on lower subscriber additions in Q1FY25

Shares of IndiaMART InterMESH plunged more than 8 percent in intra-day trading on Wednesday after the company reported a significant drop in subscriber additions for the quarter ending June 2024 (Q1FY25). The company added only 1,500 subscribers in Q1FY25, far below analysts’ expectations, compared to 2,683 subscribers in the March quarter (Q4FY24). Despite this, IndiaMART reported strong earnings for the quarter, with notable margin expansion.