As highlighted earlier in this thread, Q1 challenges are due to economical challenges across the geography and still management says they have displayed profitability in countries like Turkey.
Also increase in investments has impacted profits. Increased expenses will continue for next 4-6 quarters. In Q1 FY24 earnings transcript, mgmt has touched upon staying competitive and very clear on what they are doing. This sounds quite optimistic.
On other side, if we see long term, Sales, Profit, Stock price have all increased with not much of deviation. Looks more for long term investment.
Disclosure: I am invested a small % for last 2 years. Considering Technicals on a monthly charts, I am exiting my position.
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