Info Edge Q4 Net Profit at ₹88 Crore, Revenue Rises 7.9%

Info Edge (India) Ltd, the parent company of Naukri.com, reported a consolidated net profit of ₹87.9 crore for the fourth quarter ending March 31, 2024. This marks a significant turnaround from the loss of ₹503.1 crore registered in the same period last year.

The company’s consolidated revenue from operations increased by 8.7% to ₹657.42 crore, up from ₹604.78 crore in the corresponding quarter of the previous fiscal year.

On a standalone basis, Info Edge recorded a 7.9% growth in revenue from operations, reaching ₹608.3 crore for Q4 FY24, compared to ₹564.0 crore in Q4 FY23.

“The recruitment business witnessed an uptick in Q4 performance, while non-recruitment businesses continued to deliver robust results,” the company stated. Revenue growth in the recruitment segment was recorded at 3.4% year-on-year. Meanwhile, the non-recruitment verticals—99acres.com (real estate), Jeevansathi.com (matrimony), and Shiksha.com (education)—saw impressive growth rates of 22.5%, 29.2%, and 22.2%, respectively.

For the fiscal year ending March 31, 2024, Info Edge reported a net profit of ₹594.55 crore, a substantial recovery from a loss of ₹70.45 crore in FY23. The annual revenue from operations increased by 8.12% to ₹2,536.34 crore, compared to ₹2,345.69 crore in the previous fiscal year.

Hitesh Oberoi, Managing Director and CEO of Info Edge, expressed optimism about the company’s performance. “I am encouraged to see a slight rebound in our recruitment business after several weak quarters. Excellent execution in both 99acres and Jeevansathi helped reduce operational losses in these verticals from ₹198 crore in FY’23 to ₹68 crore in FY’24, with ₹21 crore cash generation in Q4,” Oberoi stated.

The valuation of Info Edge’s investments in Zomato and PB Fintech showed significant improvement during FY24. The investment valuation in Zomato grew to ₹15,731 crore, up from a loss of ₹3,759.4 crore a year ago. Similarly, investments in PB Fintech increased to ₹1,335.5 crore during FY24.

These financial results highlight Info Edge’s strong recovery and growth trajectory, driven by robust performances across its recruitment and non-recruitment business verticals.

Disclaimer: This information is covered based on the latest research and development available. However, it may not fully reflect all current aspects of the subject matter.

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