Info Edge (India) Ltd Share Price – NSE  /  BSE

E-Commerce/App based Aggregator, Mid Cap

The standalone billings for the recruitment solutions segment stood at Rs 625.4 crore (up 7.18% YoY) while the real estate segment’s (99acres) billings were at Rs 131.1 crore (up 26.42% YoY) and Rs 70.5 crore (up 14.82% YoY) came from other business segments.

On a full year basis, the total standalone billings rose 5.48% to Rs 2,495.9 crore in FY24 as against Rs 2,366.3 crore recorded in FY23.

Meanwhile, a foreign broker reportedly upgraded rating for the stock by two notches to 'buy' from 'sell' citing multiple tailwinds for its core business.

Info Edge, a leading Indian internet company, operates India's top online classifieds platforms for recruitment (Naukri.com), matrimony (Jeevansathi.com), real estate (99acres.com) and education (Shiksha.com).

Info edge reported a net profit of Rs 151.09 crore in Q3 FY24 as against a net loss of Rs 116.53 crore in Q3 FY23. Revenue from operations grew 6.37% to Rs 627.12 crore in Q3 FY24 as compared to Rs 589.52 crore in Q3 FY23.

The counter hit a 52 week high of Rs 6,234.95 in today’s intraday session.

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Info Edge (India) has invested Rs 30 crore in Redstart Labs (India) , wholly-owned subsidiary of the Company. The Company already holds 100% stake in Redstart on a fully converted and diluted basis. The transaction is done at Arm's Length basis.

The Company has agreed to acquire 3,000,000 Compulsorily Convertible Debentures (CCDs) having face value of Rs. 100/- each. Post this investment, Redstart remains the wholly-owned subsidiary of the Company.

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Info Edge's mobile apps, including Naukri, 99acres, and Shiksha, were removed from the Google Play Store. The company claims they were surprised by the removal and didn't receive proper notice. They're working with Google to get the apps back on the store as soon as possible. Existing users can still use the apps they already downloaded. This removal only affects the Google Play Store, users on other app stores or web platforms are unaffected.

Google delisted the apps due to non-compliance with its updated user choice billing (UCB) policy. This policy requires apps to offer users a choice of payment methods, including Google's in-app billing system or alternative billing options.

Info Edge, a leading Indian internet company, operates India's top online classifieds platforms for recruitment (Naukri.com), matrimony (Jeevansathi.com), real estate (99acres.com), and education (Shiksha.com).

Info Edge (India) showed strong financial performance for Q3FY24 (quarter ending December 2023). Its revenue from operations grew by 7.2% year-over-year to Rs 595.4 crore. It also maintained healthy operating profit margins at 36.7% of revenue and achieved a 7% increase in operating profit to Rs 218.7 crore compared to Q3FY23.

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Net profit of Info Edge (India) reported to Rs 151.09 crore in the quarter ended December 2023 as against net loss of Rs 116.53 crore during the previous quarter ended December 2022. Sales rose 6.38% to Rs 627.12 crore in the quarter ended December 2023 as against Rs 589.52 crore during the previous quarter ended December 2022.

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