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New customer additions to remain volatile until COVID churn stabilises: IndiaMART

New customer acquisitions and net customer additions at IndiaMART will remain volatile until the industry churn from the pandemic stabilises, Dinesh Agarwal, CEO and managing director of IndiaMART InterMESH Pvt. Ltd. said on an earnings call on Friday. Even with this volatilty, Agarwal said that there are people who understand IndiaMART as a platform and know how to take out value from it. This was reflected in increasing collections and ARPU from customers, both of which increased rapidly when the market was open December 2020 to March 2021. This has been disturbed again because of the second wave of COVID-19, which is more severe. Agarwal said IndiaMART had to drop 15,000 customers in the first quarter of FY20 due to COVID-19 pandemic. It took the company two quarters to recover from this.  Highlights from earnings call  80 million visits every month…

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