Despite headwinds Info Edge stock rally continues on strong Q4 performance

Notwithstanding the slowdown in IT hiring and rich valuation, most analysts remain positive

Info Edge (India) reported a good fourth quarter for the 2022-23 financial year (Q4FY23) given depressed conditions in the Key IT segment.

The billing growth of 13.7 per cent year-on-year (YoY) in recruitment was well ahead of market expectations. There was solid growth in realisations (up 5.5 per cent) as well as unique customers (up 7.7 per cent). Billings were also ahead of expectations in real estate (up 30.8 per cent year-on-year or YoY) and Shiksha (up 42.5 per cent YoY).

Consolidated revenues of Rs 2,158 crore for FY23 showed 38 per cent YoY growth over FY22 while Ebitda (earnings