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Info Edge (india) slides after reporting Q3 net loss at Rs 60 cr

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Info Edge (India) reported a consolidated net loss of Rs 59.85 crore in Q3 December 2019 (Q3 FY20) as against net profit of Rs 331.78 crore in Q3 December 2018 (Q3 FY19).

Net sales rose 15.5% to Rs 335.06 crore in Q3 FY20 over Q3 FY19. The company reported pre-tax loss of Rs 38.16 crore in Q3 FY20 compared with pre-tax profit of Rs 364.29 crore in the corresponding quarter last year. The result was announced during market hours on Wednesday, 12 February 2020.

Info Edge recorded billing of Rs 299.9 crore for the quarter ended on 31 December 2019 compared to Rs 272 crore in the quarter ended on 31 December 2018, up by 10.3%.

Operating EBITDA has increased by 27.2% to Rs 105.9 crore in Q3 FY20 from Rs 833 crore in Q3 FY19.

Commenting on the results, Chintan Thakkar, CFO said, "We are pleased to witness yet another robust uarterly result containing double digit growth in all key matrices such as billing, revenue and operating EBITDA on YoY basis. We continue to leverage our strong cash surplus position o invest in technology and branding."

Info Edge (India) runs leading internet businesses like Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. Info Edge has made significant strategic investments into emerging internet companies - zomato.com, meritnation.com, policybazaar.com, Canvera.com, happilyunmarried.com.

Shares of Info Edge (India) ended 0.44% lower at Rs 2984 on Wednesday.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 12 2020. 16:31 IST
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