Info Edge Q4: Posts Profit Of INR 88 Cr, Sales Soar To INR 657 Cr

Info Edge’s Q2 Profit Declines 64.6% To INR 85 Cr

SUMMARY

Info Edge had reported a net loss of INR 503 Cr in Q4 FY23, while its net profit stood at INR 119.4 Cr in Q3 FY24

Operating revenue grew 8.7% to INR 657.4 Cr in Q4 FY24 from INR 604.7 Cr in the year-ago quarter

Info Edge also announced an investment of INR 15 Cr in Gramophone, which would increase its stake in the agritech startup to 39.5%

Delhi NCR-based online classified company Info Edge reported a consolidated net profit of INR 87.9 Cr in Q4 of financial year 2023-24 (FY24) as against a net loss of INR 503 Cr in the year-ago quarter. The company incurred a loss in Q4 FY23 largely due to impairment of its investment in Rahul Yadav’s 4B Network.

However, Info Edge’s profit dropped 26% during the quarter under review from INR 119.4 Cr profit it posted in Q3 FY24.

For the full fiscal year FY24, Info Edge reported a profit of INR 594.5 Cr as against a net loss of INR 70.4 Cr in FY23.

Meanwhile, the company, which is an investor in startups like Zomato and PB Fintech, reported an operating revenue of INR 657.4 Cr in the last quarter of FY24, an increase of 8.7% from INR 604.7 Cr in the year-ago quarter. On a quarter-on-quarter basis, revenue rose 4.8% from INR 627.1 Cr.

On an annual basis, the startup’s operating revenue increased 8% to INR 2,536.3 Cr in FY24 from INR 2,345.6 Cr in the previous fiscal year.

The company’s total revenue increased 7.7% to INR 2,950 Cr in FY24 from INR 2,738.5 Cr in FY23.

How Did Info Edge Earn Revenue?

Info Edge’s recruitment business Naukri.com earned a revenue of INR 480.5 Cr in Q4 FY24, an increase of 4.5% from INR 459.6 Cr in the corresponding quarter of the previous fiscal year.

Its real estate platform 99acres saw revenue jump 17.4% to INR 92.5 Cr during the quarter under review from INR 75.5 Cr in Q4 FY23.

Other segment, which comprises matrimony portal Jeevansathi and education platform Shiksha, reported a revenue of INR 84.3 Cr during the quarter under review, an increase of 21.1% from INR 69.5 Cr reported in the year-ago quarter.

Meanwhile, Info Edge’s total expenditure increased 6.4% to INR 469.3 Cr in Q4 FY24 from INR 440.9 Cr in Q4 FY23.

The company’s board also approved a dividend of INR 12 per share.

In a separate filing, Info Edge also announced an investment of INR 15 Cr in agritech startup Gramophone, which would increase its stake to 39.5%.