Page 2 - Info Edge

Info Edge reports increase of 3.5% in Q4 billings to Rs 827 crore

Job portal Naukri.com parent firm Info Edge has reported a 3.5 per cent increase in billings of the company to Rs 826.9 crore on a standalone basis in the fourth quarter ended March 31, 2024, the company said in a regulatory filing. The billings of the company stood at Rs 748.6 crore in the same period a year ago. Recruitment Solutions billing grew by 7.18 per cent during the quarter to Rs 625.4 crore from Rs 583.5 crore in March 2023 quarter. The billings of real estate arm 99acres grew by 26.42 per cent to Rs 131.1 crore during the reported quarter from Rs 103.7 in the corresponding quarter a year ago. For the year ended March 31, 2024, the standalone billing of the company increased by 5.47 per cent to Rs 2,495.9 crore from Rs 2,366.3 crore in 2022-23. The biggest contributor to the company's billing, Recruitment Solutions, grew marginally to Rs 1883.2 crore during the reported fiscal from Rs 1,858.7 crore in fiscal year 2023. Real estate platform 99acres' billing grew by abou

Improving hiring expectations, investment gains positive for Info Edge

Naukri continues to be the market leader among recruitment portals with a database of over 95 million and a 70 per cent traffic market share in the segment

Startups generate more employment than big companies: Sanjeev Bikhchandani

Sanjeev Bikhchandani discusses the growth of Info Edge from startup to a tech giant, and the crucial role of startups in India's growth story at Business Standard Manthan

Never received notice from Google: Sanjeev Bikhchandani on removal of apps

Info Edge founder said that the only app in contention was Jeevansathi, and it was complied with on February 9

Info Edge's Naukri, Shiksha, 99 acres removed from Google Play Store

Info Edge (India) Ltd on Saturday said its mobile apps, including naukri.com, 99 acres.com, and shiksha.com have been removed from Google Play Store. This comes a day after Google began removing some apps, including popular matrimony apps, from its Play Store in India over a dispute on service fee payments. Google has said that 10 companies in the country, including "many well-established" had avoided paying fees despite benefiting from the platform. "We would like to inform you that the company's mobile applications (viz. Naukri.com Job Search App, Naukri Recruiter, Naukrigulf Job Search App, 99acres Buy/Sell/Rent Property and Shiksha), have been removed/delisted from Google Play Store today by Google, along with several mobile applications of other companies/entities as well," Info Edge (India) Ltd said in a BSE filing. It said the action comes as a surprise to the company as it was taken without giving due and sufficient notice by Google. Info Edge clarified that users who alre

IAMAI advises Google not to delist any apps from its Play Store in India

Earlier today, Google began removing the apps of 10 companies in India over service fee payments, including some popular matrimony apps like Bharat Matrimony

Matrimony, Info Edge seesaw as Google warns removing them from playstore

As per the media report, Google has warned of removing apps of ten companies in India, including of Matrimony.com and Info Edge, for failing to pay a service fee for the use of its playstore.

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 net profit more than doubles to Rs 240 cr in Jul-Sep qtr

Internet company Info Edge on Tuesday posted a two-fold jump in consolidated net profit to Rs 240 crore for the September quarter. The company had posted net profit of about Rs 94 crore in the year-ago period, according to a company's regulatory filing on Tuesday. The consolidated revenue from operations of the company grew 3.59 per cent to Rs 625.84 crore in the second quarter of the current fiscal from Rs 604 crore it posted a year ago. The real estate vertical of Info Edge, 99acres.com, continued its growth trend for the past few quarters and delivered a strong performance in the September quarter with a revenue growth of 25.2 per cent. The company's revenues in the recruitment business grew 9.1 per cent year-on-year during the quarter. "Good execution in 99acres and Jeevansathi business helped reduce burn in these verticals substantially during the quarter. The non-IT hiring market continued to be strong but a slowdown in IT hiring dragged down Naukri growth," Info Edge Managi

FIR filed against 4B Network's Rahul Yadav, Sanjay Saini in fraud case

The Rajasthan-based vendor was taken on by 4B to carry out outdoor advertising campaigns back in February 2022

Info Edge consolidated net profit halves to Rs 147 cr in June quarter

Internet company Info Edge on Friday said its consolidated net profit in June quarter FY24 almost halved to Rs 147.4 crore. The company, which owns platforms like Naukri.com, Jeevansathi etc, had posted a net profit of Rs 292.4 crore for the same period a year ago. Revenue from operations increased 14.37 per cent to Rs 625.94 crore during the quarter from Rs 547.26 crore in the year-ago period. "The Naukri business is facing headwinds in IT hiring, however the non-IT hiring market continues to look good. Growth in 99acres continues to be strong. In Jeevansathi, our Freemium strategy has helped us bring down our marketing spend and cut burn over the last few quarters," Info Edge Managing Director and Chief Executive Officer Hitesh Oberoi said in a statement.

Info Edge initiates forensic audit in Rahul Yadav's start-up 4B Networks

Info Edge saw its net profit for the fourth quarter of FY23 reported a loss of Rs 349.5 crore, compared to a profit of Rs 285.7 crore in the same quarter last fiscal

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 slips into red in Q4, writes off investment in Bizcrum Infotech

Revenue from operations saw a 28 per cent year-on-year (YoY) uptick to Rs 604.8 crore in Q4, up from Rs 472.9 crore in the same period last year

Info Edge: Investors must wait for sell-off to end before making new entry

The guidance says there are clear signs of a slowdown in IT hiring, with supply pressure easing and lower attrition

IT firm Info Edge reports loss of Rs 116.5 crore in December quarter

IT firm Info Edge on Friday posted a consolidated loss of Rs 116.5 crore in the third quarter ended December 31, 2022 mainly on account of write-off investment in property tech start-up 4B Networks, dip in valuation of some investments and slowing down of the job market. The company had posted a profit of Rs 4,601.87 crore in the same period a year ago. According to the company filing, Info Edge wrote off Rs 519.93 crore in property tech start-up 4B Networks, led by former Housing.com founder Rahul Yadav. "Investment in 4B Networks Pvt Ltd... amounting to Rs 5,199.31 million, (consisting of Rs 7,194.35 million Goodwill, Rs 807.73 million for net assets and reduced by non controlling interest payable of Rs 2802.77 million...) has been fully impaired," the filing said. The filing showed fair valuation of Info Edge investments in Zomato recorded a negative value of Rs 365.87 crore from Rs 95.96 crore in the December 2021 quarter. The September 2022 quarter, the fair valuation in Zomat

IT hiring slowdown to hit Info Edge revenues in second half of FY23

Ongoing investments in 99acres amid rising competition may hinder profitability

Volatility may be a good thing for investors considering Info Edge stock

Analysts bullish about holding company of popular websites like Naukri and 99acres despite value erosion of Zomato, Policybazaar, its investee firms

Info Edge acquires 76% stake in online dating firm Aisle for Rs 91 crore

Aisle had a turnover of Rs 7.56 crore in 2020-21, the filing said

Info Edge can't sell Rs 25,000-cr holdings in Zomato, PB Fintech for a year

Until recently, Sebi regulations mandated that pre-IPO investors in a company cannot offload shares after its listing for a period of one year