-
ALSO READ
Info Edge shares gain 7%, hit all-time high on launch of QIP
Info Edge rises 6% as board approves raising up to Rs 1,875 cr via QIP
Info Edge up 3% after Q1FY21 results; Axis Capital maintains 'ADD'
HSBC values Info Edge's stake in Zomato at $1.1 billion; stock jumps 5%
Info Edge: Fall in billing a worry, investors should await management views
-
While announcing the September quarter results, the management said it is seeing gradual recovery of billings across all businesses. The quarter-on-quarter (QoQ) billings have grown by 32.3 per cent, it said.
However, in Q2FY21, the company’s billings dipped 17 per cent year-on-year (YoY) at Rs 249.5 crore. Operating EBITDA (earnings before interest, taxes, depreciation, and amortization) was down by 48.1 per cent at Rs 51.6 crore over the corresponding quarter in FY2019-20.
Info Edge (India) is among the leading internet companies in India. It runs leading internet businesses - Naukri.com - India’s no. 1 job site, Jeevansathi.com – one of the leading matrimonial portals, 99acres.com - India’s No.1 real estate portal and Shiksha.com – India’s leading education portal. The company also owns Quadrangle – an offline executive search business, and Naukri Gulf (a leading jobsite in the Middle East market).
Apart from this, Info Edge has made significant strategic investments such as zomato.com, policybazaar.com and happily unmarried.com etc.
“Info Edge reported billings decline in June quarter (Q1FY21) due to COVID-19, which was reflected in 19 per cent year-on-year (YoY) revenue de-growth in Q2 (due to the subscription based model of the business). Continued month-on-month improvement (after the trough of May’20) in billings is in line with our assumption of a gradual increase in revenues going forward,” Motilal Oswal Securities said in result update.
Given the company’s market positioning, multi-dimensional growth may be expected across its core businesses in the medium-to-long term. We expect long-term growth trends to play out at its operating entities, whose margins continue to inch up on high operating leverage. Furthermore, led by an inclination for profitability in investee companies, we expect consolidated losses to be curtailed over time, the brokerage firm said.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU