IndiaMART delivered in-line revenue performance in 1QFY22. The number of paid suppliers fell by 6k, impacted by lockdowns amid the second COVID wave. On the other hand, ARPU surged 5.8% QoQ on higher churn in lowpaying silver monthly suppliers. The decline in collections was restricted to 38% QoQ v/s a 53% QoQ drop in 1QFY21. The sharp rebound in FY21 collections (post the drop in 1QFY21) reassures us of a quick rebound in...