Shares of this large-cap technology company which is in the business of online recruitment run under the brand naukri.com which accounts for approx 80 percent of traffic share, was up 4 percent following the board of directors approval on stock split in the ratio of 1:5.
Price Variation
In Wednesday’s session, Info Edge (India) Limited‘s share price jumped 3.69 percent to a day’s high of Rs.7,988.70 per share. The stock has reiterated from a day’s high and was trading at Rs. 7,934.95 which is 3.00 percent higher than the previous closing price of Rs. 7,704.05 per share. It has delivered a return of around 53 percent return in the past year.
What happened
Info Edge (India) stock surged after an exchange filing revealed that the Board of Directors has considered and approved a stock split at the meeting held on 5th February 2025. The stock will be split with 1 existing share with a face value of Rs. 10 per share fully paid up equity share to be split into 5 shares with a face value of Rs. 2 per share fully paid up equity shares.
The record date shall be decided after receiving approval from the shareholders of the company and to be revealed in due course. For the first time, the company is planning to split the shares but they have declared bonus shares in the past.
Financial Performance
Looking at the company’s financials, Info Edge (India) reported a revenue of Rs.701 crore for Q2FY25, marking an 11.98 percent increase from Rs.626 crore in the same quarter last year. However, Profit After Tax (PAT) declined by 64.58 percent to Rs.85 crore, down from Rs.240 crore in the previous year’s quarter.
Revenue Segment
The company earns its revenue from Recruitment Services which contributes around 75.43 percent, 15.55 percent from 99acres for real estate, and the remaining 9.02 percent from others as of September 2024.
Company Profile
Info Edge (India) Ltd is a leading technology holding company specializing in internet-based services, operating platforms like Naukri.com, Jeevansathi.com, and 99acres.com, while also investing in startups.
Written by – Santhosh S
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