Emudhra Q3 - Strong Performance Led By Expansion Of Enterprise Business In Foreign Markets: Yes Securities

Yes Securities Report

Emudhra Ltd.'s reported inline financial performance for the quarter. The sequential revenue growth was below estimates and Ebitda margin inline with estimates.

It reported sequential revenue growth of 1.1% QoQ, led by Enterprise Business (up 15.6% QoQ) and Trust Business (down 28.3% QoQ). The Enterprise segment continues to maintain robust growth trajectory led by strong traction in Middle East, the U.S. and Asia Pacific.

The international revenue mix continues to increase led by the expansion of Enterprise business in foreign markets. The pricing pressure in the Trust services business is largely over and the segment has returned to normal growth trajectory.

Ebitda margin for the quarter declined by 405 basis points QoQ to 25.3% for the quarter on account of higher operational expenses incurred in expanding its presence in the foreign markets of the U.S. and Europe.

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