Info Edge FY22 Net Profit Rises Multifold To INR 8,922.5 Cr On Gains From Zomato IPO

Info Edge FY22 Net Profit Rises Multifold To INR 8,922.5 Cr On Gains From Zomato IPO

SUMMARY

Info Edge got an exceptional gain of INR 9,511.6 Cr in FY22, mainly due to selling some of its stake in Zomato IPO and unrealised mark to market gain

Info Edge’s net profit rose over 70% to INR 120.6 Cr on Q4 FY22

Info Edge’s cash EBITDA grew 140% to INR 811.6 Cr in the financial year ending March 2022

Noida-based online classifieds company Info Edge reported a multifold rise in its net profit for financial year 2021-22 (FY22) to INR 8,922.5 Cr due to gains from listing of food giant Zomato on the stock exchanges.

Info Edge was one of the earliest investors of Zomato and held an 18.6% stake in the startup before it went public. The company received INR 375 Cr for its sale of over 4.9 Cr shares of Zomato through an offer for sale (OFS) during its initial public offering (IPO).

“Effective listing date, Zomato Ltd has ceased to be a joint venture and has been reclassified as financial investment which will be fair valued at each reporting date…Accordingly, unrealised mark to market gain of INR 89411.95 Mn till date of listing of Zomato has been credited to P&L through exceptional item,” Info Edge said.

Ite revenue grew 38% year-on-year (YoY) to INR 1,562.4 Cr during the year. Info Edge operates its classified business through online recruitment platform Naukri.com, real estate portal 99acres.com, matrimony portal Jeevansathi.com and education portal Shiksha.

The company also saw its FY22 billing surge 58% to INR 1,866 Cr.  Info Edge’s cash EBITDA also grew 140% to INR 811.6 Cr in the financial year ending March 2022.

The growth was primarily led by Naukri, which saw its segment revenue shoot up to INR 1,154.2 Cr in FY22 from INR 800.3 Cr in FY21. 99acres.com also saw its revenue surge to INR 217.3 Cr in FY22 from INR 173.7 Cr in FY21.

Info Edge Key Financials Annual

Naukri also saw its billing surge 72.6% to INR 1436 Cr in FY22, largely on account of addition of billing of its acquired businesses of Zwayam and Do Select. The real estate platform’s yearly billing for FY22 stood at INR 231.2 Cr, up nearly 25% on a yearly basis. 

“We are experiencing strong tailwinds in recruitment and real estate verticals. Post pandemic the gap between supply and demand of skills has increased globally. We expect this trend to continue in the mid to long term and will create demand for platforms like naukri”, Info Edge managing director (MD) and chief executive officer (CEO) Hitesh Oberoi said.

On a quarterly basis, Info Edge’s revenue from operations soared 38.5% YoY to INR 455.5 Cr in Q4 FY22 from INR 300.5 Cr in Q4 FY21. Profit after tax (PAT) for the quarter ended March 2022 grew 73% to INR 120.6 Cr from INR 69.6 Cr in Q4 FY21.

Info Edge Financial Quarterly Update

On a quarterly basis, Naukri.com’s Q4 FY22 revenue stood at INR 344.4 Cr, up more than 44.2% YoY from INR 209.1 Cr a year ago. Meanwhile, 99acres reported a quarterly revenue of INR 61.2 Cr in Q4 FY22, up 22% compared to INR 50.1 Cr in Q4 FY21.  

Shares of Info Edge ended 4.01% higher at INR 3,693.65 on the BSE on Friday.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Info Edge FY22 Net Profit Rises Multifold To INR 8,922.5 Cr On Gains From Zomato IPO-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Info Edge FY22 Net Profit Rises Multifold To INR 8,922.5 Cr On Gains From Zomato IPO-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Info Edge FY22 Net Profit Rises Multifold To INR 8,922.5 Cr On Gains From Zomato IPO-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Info Edge FY22 Net Profit Rises Multifold To INR 8,922.5 Cr On Gains From Zomato IPO-Inc42 Media
Info Edge FY22 Net Profit Rises Multifold To INR 8,922.5 Cr On Gains From Zomato IPO-Inc42 Media
You’re in Good company