Internet Sector Q4 Results Preview - Strong B2B; B2C May Be Underwhelming: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Q3 FY23 was a difficult quarter for most business-to-consumer e-commerce companies and investors were expecting recovery in Q4 FY23E. However, our channel checks indicate B2C growth may underwhelm expectations. We note signs of consumption fatigue across online food ordering and beauty and personal care e-commerce. This is in contrast to the buoyancy in some offline discretionary categories such as travel and hospitality. We believe this is due to-wallet share recalibration among different consumption baskets andsustained trend of online-to-offline migration first seen in Q2 FY23. In our view, business-to-business e-commerce is likely to continue on a strong growth trajectory in Q4 FY23E led by penetration increase as small businesses explore means of increasing their digital footprint both on supply and demand sides..Click on the attachment to read the full report:.IT Services Outlook - BFSI To Drag FY24 Growth, But Structural Demand Intact: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Internet Sector Q4 Results Preview - Strong B2B; B2C May Be Underwhelming: ICICI Securities

In our view, B2B e-commerce is likely to continue on a strong growth trajectory in Q4 FY23E.

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