On Monday, India’s foremost Ed-tech company, engaged in recruitment, matrimony, real estate, education, and associated services, saw its stock surge approximately 10 percent, reaching a 52-week high of ₹6,234.95 per share after the company reported Standalone billings of ₹826 crores.
At 12:25 p.m., On Monday, Info Edge (India) Ltd shares were trading at ₹6,182 per share, up ₹ 504.75 or 8.89 percent on the National Stock Exchange from the previous close price. The company has a market capitalization of ₹80,251 crore.
As per the company’s filing, The company’s standalone billings showed a 10 percent increase, rising from ₹748.6 crores to ₹826.9 crores quarter on quarter, and a 5.5 percent increase year on year, climbing from ₹2,366.3 crores to ₹2,495.9 crores.
In terms of business segments, Recruitment Solutions revenue saw a 7 percent rise, increasing from ₹583.5 crores in Q3FY23 to ₹625.4 crores in Q3FY24, while revenue from 99acres for Real Estate grew by 27 percent, jumping from ₹103.7 crores to ₹131 crores during the same period.
Year on year, Recruitment Solutions revenue increased by 1.5 percent, reaching ₹1,883.2 crores in FY 23-24 from ₹1,858.7 crores in FY 22-23, and revenue from 99acres for Real Estate saw a 24 percent increase, surging from ₹311.6 crores to ₹385.1 crores.
Compared with the previous quarter, operational revenue rose by 6.2 percent, climbing from ₹590 crores in Q3FY24 to ₹627 crores in Q3FY24. Moreover, net profit surged by 159 percent, jumping from ₹46 crores to ₹119 crores, as per the company’s exchange filing.
Info Edge shares witnessed a significant 47 percent increase over the past six months and a notable 66 percent surge over the last 12 months.
Info Edge is India’s premier online classified company with a portfolio of brands. It owns various brands in different fields like naukri.com (online recruitment), 99acres.com (online real estate), jeevansathi.com (online matrimonial) as well as shiksha.com (online education information services).
As of the February shareholding pattern, the company’s promoter holds a 40.4 percent stake, with Foreign Institutional Investors holding 30.8 percent and domestic institutional investors holding 19.3 percent in the company.
Written by Omkar Chitnis
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