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Info Edge Logs 22X Rise In Profit On Windfall Gains From Zomato Listing

Info Edge Logs 22X Rise In Profit On Windfall Gains From Zomato Listing

It garnered exceptional gains of INR 8,269.25 Cr during July-September

It sold shares worth INR 357.14 Cr in Zomato IPO

During Q2, it recorded a nearly 40% rise in its revenue from operations

Delhi NCR based Info Edge has reported a multi-fold jump in its net profit for the July-September quarter on the back of massive gains from the bumper IPO and listing of online foodtech major Zomato.

Its consolidated net profit for the quarter ended September of FY22 was INR 7,369.34 Cr, over 22 times higher than INR 328.03 Cr reported in the same period of the last financial year (FY21).

The profit got a boost on the back of the proceeds garnered from the share sale in the initial public offering (IPO) of Zomato and the unrealised gains from its bumper listing.

The exceptional gains of Info Edge during the period under review stood at INR 8,269.25 Cr, including INR 357.14 Cr raised from the share sale in the Zomato IPO. It also includes INR 7,867.67 Cr as gain on the fair valuation on investment.

“Effective listing date, Zomato Limited has ceased to be a joint venture (i.e . jointly controlled entity) and hence has been reclassified as financial investment which will be fair valued at each reporting date. Accordingly, the unrealised mark to market gain of INR 78,676.71 Mn till date of listing of Zomato has been credited to P&L (profit and loss) through exceptional item,” the company said in a regulatory filing.

Info Edge, was one of the earliest investors of the food delivery unicorn and held an 18.6% stake before it went public. As of the quarter ended September, Info Edge had 15.23% as per the BSE data.

It also recorded a nearly 40% rise in its revenue from operations to INR 364.07 Cr in the second quarter of FY22. In the same period of last fiscal, its operational revenue stood at INR 260.91 Cr.

Commenting on the results, Chintan Thakkar, CFO, said, “We are excited to witness billing growth of 61.3% on YoY basis during the quarter, led by Recruitment Solutions 73.9%, 99acres 45.9%, and Shiksha 74.7%. As compared to pre-pandemic levels, i.e. Q2 FY20, Billing growth is 33.9%, led by Recruitment Solutions 38.8% and 99acres 12.5%.” 

For the July-September quarter, billing for the company stood at INR 402.3 Cr, against INR 249.5 Cr reported in the year-ago period.

Info Edge also has strategic investments in Policybazaar, which got listed on the stock exchanges today.

The internet giant was founded by Sanjeev Bikhchandani in 1995. It runs 11 subsidiaries, including, Interactive Visual Solutions and Smart Web,,, Newwinc Internet Service, Startup Internet Services, Startup Investments, Diphda Internet Services, HighOrbit Careers and Redstart Labs.

Info Edge also runs a venture fund, through which it has invested in several startups, including Zomato, ShopKirana, and Happily Unmarried.

Last month, it infused INR 2.6 Cr in digital content startup Rusk Media through Info Edge Ventures I fund. Further, on October 11, Info Edge Ventures invested $2 Mn in SaaS-based remote property intelligence startup Attentive.