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Info Edge Q4 Results: PAT rises 18% YoY to Rs 211 crore, revenue up 8%

Byadmin

May 16, 2024


Naukri.com operator Info Edge on Thursday reported an 18% year-on-year (YoY) jump in its March quarter standalone profit to Rs 211 crore while its revenue recorded a 7.9% growth to Rs 608.3 crore.

The company also announced a final dividend of Rs 12 per share for FY 2023-24.

The company’s operating profit margins grew to 37% of revenue. Meanwhile, it registered a growth of 8.9% in its operating profit which stood at Rs 224.8 crore on a standalone basis as compared to Rs 206.3 crore in the corresponding quarter of the previous year.

“Our cash from operations grew by 13.2% year-over-year in Q4FY24, reaching a cash balance of Rs 4,191 crore as of March 31st, 2024. This consistent performance in cash flow generation underscores our company’s robust financial health and positions us well for future investments and shareholder returns,” Info Edge CFO Chintan Thakkar said.

The recruitment business witnessed an uptick in Q4 performance whereas non-recruitment businesses continued to deliver robust performance.Revenues growth in the recruitment business was 3.4% YoY and for non-recruitment business verticals namely 99acres.com, Jeevansathi.com and Shiksha.com was 22.5%, 29.2%, and 22.2% respectively. Billing for the company on a standalone basis for the quarter grew by 10.5% YoY and stood at Rs 826.9 crore.”I’m 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 Rs 198 crore in FY23 to Rs 68 crore in FY24 with Rs 21 crore cash generation in Q4,” Info Edge CEO and MD Hitesh Oberoi.Dividend
Info Edge board has also recommended a final dividend of Rs 12 per share for FY 2023-24 subject to AGM approval. Record date for the purpose of determining the name of the members eligible for receipt of the final dividend will be July 29.

The dividend if approved by the shareholders at the AGM would be paid, subject to deduction of tax at source on or after September 5, 2024.

Shares of Info Edge lower at 1.5% at Rs 5,861.50 on BSE.

By admin