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Electronics Mart India Ltd (BOM:543626) posts its strongest quarter ever with 39% revenue growth, driven by a robust AC season and significant operational efficiencies.
Hyderabad-based Electronics Mart India is looking to diversify away from the technology hub as concerns grow that potential AI-triggered job losses could hurt consumer spending, a top executive said. The retailer gets about 60% of its revenue from Hyderabad, which hosts offices of global companies such as JPMorgan Chase and Eli Lilly, and Indian IT majors Wipro and Infosys. Around a fifth of its stores in Hyderabad are located in neighbourhoods where the majority of the residents are software employees.
Electronics Mart India Ltd (BOM:543626) reports a robust 15% revenue increase and strategic store expansion, despite challenges in product mix and regional competition.
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