Info Edge drops after Google yanks apps from Play Store

Info Edge (India) dropped 2.43% to Rs 5153.70 after Google removed the company's mobile apps, including Naukri, 99acres, and Shiksha, from the Play Store.

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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