Info Edge: Good Q2 results with hiring across segments, cautious outlook

September quarter saw hiring across segments except IT, where the management guidance continues to be cautious

Info Edge (India) reported good Q2FY24 results with hiring across other segments helping offset weak IT performance. The revenue increased 11.5 per cent year-on-year (Y-o-Y) to Rs 593 crore, (up 1.5 per cent quarter-on-quarter or Q-o-Q). 

The earnings before interest, taxes, depreciation, and amortization (Ebitda) margin was excellent at 40.7 per cent, up 200 basis points year-on-year (Y-o-Y). Overall, the billings were up 4.8 per cent Y-o-Y to Rs 570 crore. 

Management guidance continued to be cautious with a slowdown in IT hiring affecting the recruitment business. 

Non-IT hiring has been doing well for the past two quarters with expansion