Info Edge (India) reported 78.7% jump in standalone net profit to Rs 51.15 crore on a 19.1% fall in net sales to Rs 256.12 crore in Q2 FY21 over Q2 FY20.
Profit before tax in Q2 September 2020 stood at Rs 65.40 crore, up by 82.6% from Rs 35.82 crore in Q2 September 2019. Current tax expense increased by 3.8% YoY to Rs 14.57 crore in Q2 FY21. Total expenditure during the quarter declined by 30% year-on-year (YoY) to Rs 204.56 crore. Operating EBITDA fell 48.1% to Rs 51.6 crore in Q2 FY21 from Rs 99.3 crore in Q2 FY20.The company's billing declined by 17% to Rs 249.5 crore in Q2 September 2020 compared with Rs 300.5 crore in Q2 September 2019. The deferred sales revenue (amount collected in advance) as at 30 September 2020 is Rs 371.9 crore, down by 22.6% over the quarter ended 30 September 2019.
Commenting on the results, Chintan Thakkar, CFO said: "We are pleased to see gradual recovery of billings across all businesses. The QoQ billings have grown by 32.3%."
Info Edge (India) runs leading internet businesses like Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. Info Edge has made significant strategic investments into emerging internet companies - zomato.com, meritnation.com, policybazaar.com, Canvera.com, happilyunmarried.com.
The scrip shed 0.44% to Rs 3520.10 on the BSE. It traded in the range of 3465 and 3588.50 so far during the day.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
