Info Edge Q4 PAT up 60% YoY

Info Edge (India) reported 60.2% rise in standalone net profit to Rs 66.68 crore on 10.2% fall in net sales to Rs 290.04 crore in Q4 FY21 over Q4 FY20.

The company's revenue from Recruitment Solutions segment was at Rs 198.64 crore (down 13.9% YoY), revenue from 99acres for real estate was at Rs 50.09 crore (down 11.1% YoY) in Q4 FY21.

Billing in the fourth quarter was at Rs 415.7 crore, up by 25.2% over the corresponding quarter in FY 2019-20.

Operating EBITDA declined 44.9% to Rs 53.2 crore in Q4 FY21 over Q4 FY20.

The deferred sales revenue (amount collected in advance) as at 31 March 2021 is Rs 520.80 crore, up 11.9% over the balance as at 31 March 2020.

The company's standalone net profit increased by 13.7% to Rs 270.93 crore on a 31.7% decline in net sales to Rs 1098.59 crore in FY21 over FY20. Operating EBITDA stood at Rs 277.5 crore, down 31.1% over the financial year ended 31 March 2020.

Chintan Thakkar, CFO said "We have witnessed continued recovery during the quarter, led by billings growth in Naukri India and 99acres by 26% and 41.5%respectively, over Q4 billings of FY20. As compared with Q4 of FY'19, a pre-pandemic quarter, the billings in Naukri India and 99acres have grown 16.7% and 7.5%, respectively."

Info Edge (India) is among the leading internet companies in India. The company runs leading internet businesses viz. Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. It has made significant strategic investments such as zomato.com, policybazaar.com and happily unmarried.com etc.

The scrip fell 2.02% to currently trade at Rs 4895.70 on the BSE.

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