Info Edge dips 2% on disappointing March quarter results

ICICI Securities believes Info Edge will be a key beneficiary of a shift of advertising to the online medium

Shares of Info Edge (India) were down 2 per cent at Rs 4,865 on the BSE in intra-day trade on Tuesday, in an otherwise strong market, after the company reported a 44.9 per cent year-on-year (YoY) decline in operating Ebitda (earnings before interest, taxes, depreciation, and amortisation) at Rs 53.2 crore during the March 2021 quarter (Q4FY21). Net sales were down 10.2 per cent YoY at Rs 290 crore.

However, the company has seen improving billing growth both YoY and quarter on quarter (QoQ). Billing increased 25.1 per cent YoY and 39.8 per cent QoQ to Rs 415.3 crore during Q4FY21,