I think this is very conservative calculation, but I understand its always wise leave some room for margin of safety. I am expecting the management to formally up the growth guidance after Q2 result. I recall CEO in his recent interview has already indicated that they will up the growth guidance (from 45-55% to a higher number) for the full year. Usually only 35% of the full year revenue is contributed in H1 and since the H2 will have higher volumes, the realizations will be better as the revenue is the function of the take rate (for both Zoyer and co-branded credit card spending). Let’s see what the Q2 numbers look like.
Disc : Invested
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