Vaibhav Global Investors/ Corporate Presentation

Expanding our offerings, enhancing the transaction experience, and deepening our engagement with our 1.45 million TV and web customers has resulted in improving performance. However, the moderation in momentum of the first quarter owing to short term factors around the transition of our call center operations to an outsourced model continued into the second quarter. We are continuing the training process to the outsourced call center team and the integration of the new retail operating software to our fast moving business. We also noticed aggressive marketing tactics by one of our close competitors. We are addressing these growth roadblocks appropriately and are confident of regaining our growth trajectory in the near future. Inventory build up has been satisfactory going into the holiday season.

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