Info Edge Q4 Results: Loss at Rs 273 crore; revenue jumps 28%

Info Edge on Friday reported a consolidated net loss of Rs 273 crore in March quarter of FY23 against a profit of Rs 629 crore in the year-ago quarter. However, on a sequential basis, the net loss widened from Rs 116 crore reported in the December quarter.

Revenue from operations increased 28% to Rs 605 crore for the period under review. The same stood at Rs 473 crore in the corresponding period of last year.

The Board has approved a final dividend of Rs 9 per share for the financial year 2022-23 subject to approval members at the annual general meeting.

“Billing growth continues to be impacted by slowdown in IT hiring. The rest of the economy continues to be solid. We are particularly happy with the performance of our non-recruitment businesses," said Hitesh Oberoi, MD and CEO, Info Edge.

For the recruitment solutions segment, billing for the quarter stood at Rs 583 crore, recording year-on-year growth of 14%.

FY23 Naukri India billing stood at Rs 1,567 crore, showing an year-on-year (YOY) growth of 31%.

Revenue for the segment rose 27% year-on-year to Rs 438 crore, while EBITDA increased 31% year-on-year to Rs 271 crore.

Billing for Shiksha jumped 42% YoY to Rs 41 crore for the fourth quarter under review. FY23 billing stood at 124 cr, an YoY growth of 28%.

Shiksha reported an EBITDA of Rs 2.3 crore, down 51 YoY%.

99acres reported a billing of Rs 104 Cr for the fourth quarter, a growth of 31%, while EBITDA loss came in at Rs 19 crore.

Meanwhile, Jeevansathi posted billing of Rs 20 crore in the March quarter, lower by 27% YoY. EBITDA loss for the segment was at Rs 22 crore.

Shiksha reported revenues of Rs 32 crore for the quarter, registering YoY growth of 31.1%. FY23 revenues stood at Rs 117 crore.

Revenues from 99acres jumped 23% to Rs 75.5 crore, while that from Jeevansathi declined 26% to Rs 19 crore.

On Friday, after the Q4 results, Info Edge stock was trading 5.74% higher at Rs 4,134 apiece on NSE.