Subdued demand had marred performance in the half-year ended September, and the December quarter (Q3FY24) appears to be following suit.
A meaningful pick-up has not occurred despite it typically being a strong quarter amid tailwinds in the form of festivals, analysts said. The ICC Cricket World Cup was also expected to boost sales this time around. But these events did not play out as envisaged. The previous year's high base also contributed to underwhelming same-store sales growth projections for Q3.
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