@LordNigel - looking at the below summary - just realised that MSV is up 30% but the Revenue is up 45% both YoY. Now given expenses reduced by a further 2% the gap is still (45-30)+2 = 13% difference. The 13% difference must be coming from optimising the margins per transaction where new merchants get charged the highest rate and legacy merchants must be tweaked to get a little more in the margin. All in all it is a good result.
Do you think my reasoning is correct as it shows Nandan has both hands at the helm?
SPT Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
