Info Edge (India) reported 17.88% increase in standalone net profit to Rs 210.94 crore in Q4 FY24 as compared with Rs 178.93 crore recorded in Q4 FY23.
Revenue from operations rose 7.86% to Rs 608.29 crore during the quarter as compared with Rs 563.95 crore posted in corresponding quarter last year.The company registered a growth of 8.9% in its operating profit which stood at Rs 224.8 crore on standalone basis for the quarter ended 31 March 2024 as compared to a profit of Rs 206.3 crore in the same quarter of the previous fiscal.
The standalone business generated cash from operation of Rs 467.6 crore in Q4 FY24.
Revenues growth in the recruitment business was 3.4% year on year and for non-recruitment business verticals namely 99acres.com (the real estate vertical), Jeevansathi.com (the matrimony business), and Shiksha.com (the education business) was 22.5%, 29.2%, and 22.2% respectively.
During the quarter, the revenues from recruitment business grew 3.4% Year on year while the revenues in real estate business grew 22.5% YOY.
In Q4 FY24, Billing climbed by 10.5% year on year and stood at Rs 826.9 crore.
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On a full year basis, the company reported a 102.60% jump in standalone net profit to Rs 833.08 crore on 10.30% rise in revenue from operations to Rs 2,380.95 crore in FY24 over FY23.
Hitesh Oberoi, managing director and chief executive officer, said, I'm encouraged to see a slight rebound in our recruitment business after several weak quarters. Excellent execution in both 99acres and Jeevansathi helped reduce operational losses in these verticals from Rs 198 cr in FY23 to Rs 68cr in FY24 with Rs. 21cr cash generation in Q4.
Chintan Thakkar, director and chief financial officer (CFO), said, Our cash from operations grew by 13.2% year-over-year in Q4FY24, reaching a cash balance of Rs 4,191cr as of March 31st, 2024. This consistent performance in cash flow generation underscores our company's robust financial health and positions us well for future investments and shareholder returns.
Meanwhile, the board declared a final dividend of Rs 12 per share for the financial year 2023-24.
Info Edge (India) is among the leading internet companies in India. The company runs leading internet businesses viz. Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. It has made significant strategic investments such as zomato.com, policybazaar.com and happily unmarried.com etc.
The scrip shed 1.74% to end at Rs 5,867.45 on the BSE.
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