Info Edge: Fall in billing a worry, investors should await management views

Q1 was better than estimates, but the 44 per cent drop in billing points to a weak revenue and margin outlook

Info Edge surprised the Street with a better-than-expected performance in the June 2020 quarter (Q1), but the sharp drop in billing is worrying investors. After being up over 4 per cent in Tuesday’s trading session, the Info Edge stock ended the day with just 0.7 per cent gain at Rs 3,313.75.

The online classified company, which owns major businesses, such as naukri.com and 99acres.com, announced its Q1 numbers on Monday after market hours.

In Q1, revenue declined 10.4 per cent year-on-year (YoY) to Rs 280.1 crore but was higher than the consensus estimate of Rs 261.4 crore. Profit before tax and exceptional