Info Edge (India) announced that the Annual General Meeting (AGM) of the company will be held on 22 September 2020.

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Consolidated profit before tax stood at Rs 146.44 crore in Q4 March 2020, down 60% from Rs 363.18 crore in Q4 March 2019. Total tax expense declined 27.8% to Rs 27.35 in Q4 March 2020 from Rs 37.91 crore in Q4 March 2019.

On a standalone basis, net profit declined 37.2% to Rs 41.62 crore on 10.3% rise in net sales to Rs 322.82 crore in Q4 March 2020 over Q4 March 2019. Operating EBITDA stood at Rs 96.50 crore, up 5.8% over Q4 FY19.

Billing stood at Rs 331.9 crore, down 8% over the corresponding quarter last year. The deferred sales revenue (amount collected in advance) as at 31 March 2020 is Rs 465.60 crore, down 1.9% over the quarter ended 31 March 2019.

Commenting on the results, Chintan Thakkar, CFO said “We continue to evaluate the unfolding situation of pandemic. The billings were growing around 13% till mid of March in FY'20 Q4 and it took a hit in the last two weeks of the quarter. Work from home and business continuity plan is operating satisfactorily.”

Meanwhile, the company's board of directors approved raising of up to Rs 1,875 crore through Qualified Institutions Placement (QIP) of equity shares.

Info Edge (India) runs leading internet businesses like Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. Info Edge has made significant strategic investments into emerging internet companies - zomato.com, meritnation.com, policybazaar.com, Canvera.com, happilyunmarried.com.

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Info Edge (India) announced that IE Venture Fund I has entered into an agreement to invest about Rs. 3.5 crore in Fanbuff Esports India.

Fanclash is an online e-sports focused engagement and community platform. E-sports fans can watch, play, follow various games like Free Fire, PUBG, Counter Strike and engage with their favorite esports players and streamers on the platform. Fanclash's vision is to become the go-to platform for e-sports fans.

The said investment would help IE Venture Fund I to support and grow Fanclash's business in India.

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Info Edge (India) Ltd is up for a fifth straight session today. The stock is quoting at Rs 2087, up 1.78% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 3.01% on the day, quoting at 8399.8. The Sensex is at 28946.21, down 2.92%. Info Edge (India) Ltd has slipped around 22.28% in last one month.

Meanwhile, Nifty IT index of which Info Edge (India) Ltd is a constituent, has slipped around 18.91% in last one month and is currently quoting at 12569.1, down 0.47% on the day. The volume in the stock stood at 3.23 lakh shares today, compared to the daily average of 3.9 lakh shares in last one month.

The benchmark April futures contract for the stock is quoting at Rs 2109, up 2.49% on the day. Info Edge (India) Ltd is up 13.68% in last one year as compared to a 28.02% slide in NIFTY and a 21.03% slide in the Nifty IT index.

The PE of the stock is 83.08 based on TTM earnings ending December 19.

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