Info Edge hits 52 week high as billings climbs 10% in Q4

Info Edge surged 9.02% to Rs 6,189.35 after its standalone billings increased by 10.46% to Rs 826.9 crore in Q4 FY24 as compared with Rs 748.6 crore in Q4 FY23.

The standalone billings for the recruitment solutions segment stood at Rs 625.4 crore (up 7.18% YoY) while the real estate segments (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 todays intraday session.

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