It is extremely hard to increase revenue whilst reducing the cost base. Additionally part of the reason the cost base was too high to start with was inefficient marketing spend. So what you have is an artificially inflated base from which you are cycling off.
I am not concerned regarding the revenue deceleration given the above. As the business becomes profitable and an efficient sales channel is developed, it just becomes a matter of spending more through that channel....
about 0.6, if follow rbl valuation, page-10
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