Just a couple of quick questions from my end. So, the first one, I think you said that you'll be able to recover 50% to 60% of the book that was eroded in your top customer by the end of the year. . Is that on a run rate basis? Or do you expect to recoup 50%, 60% of that for revenue that you booked this year? And then the second question was, I missed a bit on Anthropic. Have you signed up with Anthropic as a partner on that professional services front or as their customer?
Questions across 4 calls
Rohan Nagpal
Helios Capital Management
Latent View Analytics Limited
Saregama India Limited
There's a clear sort of increasing trend between Q1 and Q4 on the music revenue that we generate ex of carvaan and artist management, so increase in licensing revenue. I want to understand what is the driver of this increasing revenue in licensing between Q1 and Q4 through the years?
Understood. That's very helpful. And the other question I have was the sharp decrease in the advertisement and sales promotion. Is that on account of events not being there this year or not with the same intensity? Or is there some other factor driving that?
Central Depository Services (India) Limited
I had a question on the technology spend. So, as another participant pointed out that technology spend has grown a lot faster. So, it gone from about 7% of revenue to 14%. So just looking backwards in terms of what this has enabled for us, could you give us some sort of, some KPIs in terms of success rate on transactions or capacity of transactions that CDSL is able to handle as a result of the increasing investment intensity?
Yes. So, is it fair to assume that this is the floor on like we have to spend at least this much on an ongoing basis on technology to ensure business continuity?
Affle 3i Limited
I wanted to follow up on the gross margin remark that you made. You said there is some portion that is for revenue generated in this quarter and there's some portion that is investments that you are making for future revenue growth. Can you please provide some color on the split between the two, so we can get a sense of what the underlying gross margin is for the business?
Is it fair to assume that because there has been an increase this quarter, that 10% is higher this time around? Or is it still 10%?